PJT Partners Inc. (NYSE:PJT) Shares Bought by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in PJT Partners Inc. (NYSE:PJT) by 89.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,186 shares of the financial services provider’s stock after purchasing an additional 560 shares during the period. Tower Research Capital LLC TRC’s holdings in PJT Partners were worth $86,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PJT. PNC Financial Services Group Inc. raised 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 valued at $27,000 after purchasing an additional 246 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of PJT Partners during the 2nd quarter valued at approximately $61,000. Ensign Peak Advisors Inc acquired a new stake in shares of PJT Partners during the 3rd quarter valued at approximately $108,000. Vestcor Inc acquired a new stake in shares of PJT Partners during the 4th quarter valued at approximately $148,000. Finally, BOKF NA acquired a new stake in shares of PJT Partners during the 4th quarter valued at approximately $205,000. 73.40% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PJT Partners

In other news, insider Ji-Yeun Lee sold 7,934 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $75.03, for a total value of $595,288.02. Following the completion of the transaction, the insider now owns 105,487 shares of the company’s stock, valued at $7,914,689.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 10.67% of the company’s stock.

Analysts Set New Price Targets

PJT has been the topic of several research reports. Wolfe Research lowered PJT Partners from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, July 25th. StockNews.com raised PJT Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 31st. Finally, JMP Securities upped their price target on PJT Partners from $88.00 to $94.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 26th.

PJT Partners Price Performance

Shares of NYSE PJT opened at $79.65 on Tuesday. PJT Partners Inc. has a 1-year low of $59.61 and a 1-year high of $86.92. The business’s fifty day moving average price is $76.31 and its two-hundred day moving average price is $73.05. The firm has a market capitalization of $1.93 billion, a PE ratio of 24.14 and a beta of 0.78.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 20th. Shareholders of record on Wednesday, September 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Tuesday, September 5th. PJT Partners’s dividend payout ratio is presently 30.30%.

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.