Advisors Capital Management LLC Sells 4,031 Shares of PJT Partners Inc. $PJT

Advisors Capital Management LLC decreased its position in shares of PJT Partners Inc. (NYSE:PJT) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,869 shares of the financial services provider’s stock after selling 4,031 shares during the quarter. Advisors Capital Management LLC owned 0.23% of PJT Partners worth $9,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PJT. CWM LLC raised its stake in shares of PJT Partners by 50.8% in the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 61 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in PJT Partners in the 3rd quarter worth about $33,000. Salomon & Ludwin LLC bought a new position in PJT Partners during the 3rd quarter valued at about $41,000. State of Wyoming purchased a new stake in shares of PJT Partners during the 2nd quarter valued at about $63,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of PJT Partners during the 3rd quarter valued at about $90,000. Institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Up 0.1%

PJT opened at $152.82 on Monday. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 23.02 and a beta of 0.88. The company’s 50 day moving average is $145.33 and its 200 day moving average is $162.50. PJT Partners Inc. has a 12-month low of $127.73 and a 12-month high of $195.62.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business had revenue of $535.16 million during the quarter, compared to analysts’ expectations of $533.32 million. During the same period in the prior year, the company earned $1.90 earnings per share. The firm’s revenue was up 12.1% on a year-over-year basis. As a group, analysts predict that PJT Partners Inc. will post 7.65 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, March 4th. PJT Partners’s dividend payout ratio is 15.06%.

Analysts Set New Price Targets

PJT has been the subject of several research reports. Zacks Research cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Wednesday, April 1st. Wall Street Zen downgraded shares of PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods upgraded shares of PJT Partners from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $180.00 to $166.00 in a research note on Wednesday, April 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.50.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.