Renaissance Technologies LLC Makes New $316,000 Investment in PJT Partners Inc. (NYSE:PJT)

Renaissance Technologies LLC purchased a new stake in PJT Partners Inc. (NYSE:PJT) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the financial services provider’s stock, valued at approximately $316,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Securities Inc. increased its position in shares of PJT Partners by 385.4% during the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock valued at $31,000 after buying an additional 158 shares during the period. CIBC Private Wealth Group LLC grew its stake in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 146 shares in the last quarter. GAMMA Investing LLC increased its holdings in PJT Partners by 32.3% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 109 shares during the period. PNC Financial Services Group Inc. lifted its stake in PJT Partners by 51.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 176 shares in the last quarter. Finally, KBC Group NV boosted its holdings in PJT Partners by 25.4% in the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 204 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on PJT shares. Citizens Jmp lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $158.50.

Insiders Place Their Bets

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the sale, the general counsel now owns 2,288 shares of the company’s stock, valued at $324,301.12. This trade represents a 68.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.71% of the company’s stock.

PJT Partners Price Performance

NYSE:PJT opened at $142.67 on Tuesday. PJT Partners Inc. has a 1-year low of $97.74 and a 1-year high of $190.28. The business has a 50 day moving average of $138.87 and a 200 day moving average of $152.45. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 29.12 and a beta of 0.76.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter last year, the firm earned $0.98 EPS. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.70%. PJT Partners’s payout ratio is 17.64%.

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.