Russell Investments Group Ltd. Increases Stock Position in PJT Partners Inc. (NYSE:PJT)

Russell Investments Group Ltd. raised its position in shares of PJT Partners Inc. (NYSE:PJT) by 105.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,123 shares of the financial services provider’s stock after buying an additional 7,759 shares during the period. Russell Investments Group Ltd. owned about 0.06% of PJT Partners worth $1,092,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its position in shares of PJT Partners by 133.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 246 shares during the period. Quantbot Technologies LP purchased a new stake in shares of PJT Partners in the 2nd quarter worth about $61,000. Ensign Peak Advisors Inc purchased a new stake in shares of PJT Partners in the 3rd quarter worth about $108,000. Vestcor Inc purchased a new stake in shares of PJT Partners in the 4th quarter worth about $148,000. Finally, BOKF NA purchased a new stake in shares of PJT Partners in the 4th quarter worth about $205,000. 73.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PJT. StockNews.com began coverage on shares of PJT Partners in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Wolfe Research lowered shares of PJT Partners from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 25th. Finally, JMP Securities increased their price target on shares of PJT Partners from $88.00 to $94.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 26th.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $78.50 on Thursday. The company has a 50-day moving average of $75.79 and a 200 day moving average of $73.09. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 23.79 and a beta of 0.77. PJT Partners Inc. has a 1 year low of $59.61 and a 1 year high of $86.92.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.38. The business had revenue of $346.30 million during the quarter, compared to analyst estimates of $240.57 million. PJT Partners had a net margin of 7.79% and a return on equity of 17.24%. PJT Partners’s revenue was up 48.6% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. On average, equities analysts anticipate that PJT Partners Inc. will post 3 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.27%. PJT Partners’s dividend payout ratio is currently 30.30%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 7,934 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $75.03, for a total transaction of $595,288.02. Following the completion of the sale, the insider now directly owns 105,487 shares in the company, valued at approximately $7,914,689.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.67% of the stock is owned by company insiders.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.