Maryland State Retirement & Pension System Purchases 271 Shares of PJT Partners Inc. $PJT

Maryland State Retirement & Pension System boosted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 3.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,180 shares of the financial services provider’s stock after acquiring an additional 271 shares during the period. Maryland State Retirement & Pension System’s holdings in PJT Partners were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Bank & Trust lifted its holdings in shares of PJT Partners by 1.6% during the 1st quarter. First Bank & Trust now owns 5,186 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 80 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in PJT Partners by 0.6% during the 1st quarter. Crestwood Advisors Group LLC now owns 14,314 shares of the financial services provider’s stock worth $1,974,000 after buying an additional 83 shares during the period. Xponance Inc. lifted its stake in PJT Partners by 5.4% in the first quarter. Xponance Inc. now owns 1,749 shares of the financial services provider’s stock valued at $241,000 after buying an additional 90 shares in the last quarter. OLD National Bancorp IN lifted its stake in PJT Partners by 6.0% in the second quarter. OLD National Bancorp IN now owns 1,653 shares of the financial services provider’s stock valued at $273,000 after buying an additional 93 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of PJT Partners by 1.6% in the first quarter. HighTower Advisors LLC now owns 6,166 shares of the financial services provider’s stock valued at $850,000 after buying an additional 96 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on PJT. Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a report on Monday, July 14th. BMO Capital Markets assumed coverage on PJT Partners in a report on Friday, October 3rd. They set an “outperform” rating and a $205.00 target price for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a research note on Wednesday, October 8th. Finally, Wolfe Research reaffirmed an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.00.

Insider Buying and Selling

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at $88,445. This represents a 75.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

PJT Partners Stock Down 0.9%

PJT stock opened at $170.97 on Monday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 29.38 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $190.27. The business has a 50 day moving average price of $179.89 and a two-hundred day moving average price of $162.54.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The business had revenue of $731.09 billion during the quarter, compared to analysts’ expectations of $343.11 million. During the same period last year, the business earned $1.19 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities research analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners’s dividend payout ratio (DPR) is presently 17.18%.

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.