PJT Partners (NYSE:PJT) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of PJT Partners (NYSE:PJT) from a hold rating to a buy rating in a report published on Thursday.

A number of other research analysts have also weighed in on the company. Wolfe Research lowered PJT Partners from an outperform rating to a peer perform rating in a report on Tuesday, July 25th. JMP Securities lifted their price target on PJT Partners from $88.00 to $94.00 and gave the stock a market outperform rating in a report on Wednesday, July 26th.

PJT Partners Trading Up 0.6 %

Shares of NYSE:PJT opened at $78.99 on Thursday. PJT Partners has a twelve month low of $59.61 and a twelve month high of $86.92. The company’s 50 day moving average is $75.94 and its 200 day moving average is $73.13. The company has a market cap of $1.91 billion, a PE ratio of 23.94 and a beta of 0.77.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.38. PJT Partners had a net margin of 7.79% and a return on equity of 17.24%. The business had revenue of $346.30 million for the quarter, compared to analysts’ expectations of $240.57 million. During the same quarter last year, the company earned $0.88 EPS. The business’s revenue was up 48.6% on a year-over-year basis. Equities research analysts predict that PJT Partners will post 3 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared 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 (DPR) is presently 30.30%.

Insiders Place Their Bets

In other PJT Partners news, insider Ji-Yeun Lee sold 7,934 shares of the business’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 sale, the insider now directly owns 105,487 shares in the company, valued at $7,914,689.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.67% of the company’s stock.

Institutional Trading of PJT Partners

Large investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in shares of PJT Partners by 133.0% during the first quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock worth $27,000 after buying an additional 246 shares during the period. Global Retirement Partners LLC boosted its holdings in PJT Partners by 1,625.0% in the second quarter. Global Retirement Partners LLC now owns 414 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 390 shares in the last quarter. Fortis Capital Advisors LLC acquired a new position in PJT Partners in the first quarter valued at approximately $29,000. Huntington National Bank boosted its holdings in PJT Partners by 67.9% in the second quarter. Huntington National Bank now owns 450 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 182 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in PJT Partners by 423.3% in the first quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 381 shares in the last quarter. 73.40% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Company Profile

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.