PJT Partners (NYSE:PJT) Given New $199.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its target price hoisted by Keefe, Bruyette & Woods from $161.00 to $199.00 in a research report released on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, Wolfe Research reissued an “underperform” rating on shares of PJT Partners in a report on Thursday. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $164.00.

PJT Partners Stock Performance

PJT Partners stock opened at $180.11 on Monday. The stock’s 50 day simple moving average is $155.67 and its two-hundred day simple moving average is $152.49. The stock has a market cap of $4.40 billion, a price-to-earnings ratio of 31.77 and a beta of 0.76. PJT Partners has a fifty-two week low of $114.19 and a fifty-two week high of $190.28.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The business had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. PJT Partners’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. On average, analysts predict that PJT Partners will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a $0.25 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. PJT Partners’s payout ratio is currently 17.64%.

Insider Transactions at PJT Partners

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total value of $1,563,466.87. Following the completion of the transaction, the director directly owned 8,847 shares in the company, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel owned 2,288 shares of the company’s stock, valued at $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,000 shares of company stock worth $3,722,082. Company insiders own 11.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc acquired a new stake in PJT Partners in the 1st quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners during the 1st quarter valued at about $39,000. CIBC Private Wealth Group LLC boosted its position in shares of PJT Partners by 112.3% during the 4th 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. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PJT Partners during the 1st quarter valued at about $45,000. Finally, Quarry LP acquired a new stake in shares of PJT Partners during the 1st quarter valued at about $45,000. Institutional investors own 89.23% of the company’s stock.

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.