Illinois Municipal Retirement Fund Grows Stake in PJT Partners Inc. (NYSE:PJT)

Illinois Municipal Retirement Fund grew its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 7.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,852 shares of the financial services provider’s stock after purchasing an additional 930 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PJT Partners were worth $2,028,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PJT. Handelsbanken Fonder AB raised its stake in PJT Partners by 15.7% in the fourth quarter. Handelsbanken Fonder AB now owns 5,900 shares of the financial services provider’s stock valued at $931,000 after buying an additional 800 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of PJT Partners by 26.3% during the fourth quarter. TimesSquare Capital Management LLC now owns 130,948 shares of the financial services provider’s stock valued at $20,665,000 after acquiring an additional 27,301 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of PJT Partners by 7.5% in the 4th quarter. New York State Common Retirement Fund now owns 7,917 shares of the financial services provider’s stock valued at $1,249,000 after purchasing an additional 552 shares during the last quarter. Truist Financial Corp boosted its stake in PJT Partners by 6.7% in the 4th quarter. Truist Financial Corp now owns 8,889 shares of the financial services provider’s stock worth $1,403,000 after purchasing an additional 560 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its position in PJT Partners by 907.1% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,410 shares of the financial services provider’s stock worth $223,000 after purchasing an additional 1,270 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PJT shares. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities downgraded 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 PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, PJT Partners has an average rating of “Hold” and a consensus price target of $158.50.

PJT Partners Stock Performance

NYSE:PJT opened at $159.26 on Friday. The firm’s fifty day moving average is $163.41 and its two-hundred day moving average is $149.28. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 32.50 and a beta of 0.67. PJT Partners Inc. has a one year low of $88.51 and a one year high of $190.27.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. The firm had revenue of $477.30 million for the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company’s revenue was up 45.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 0.63%. PJT Partners’s dividend payout ratio is presently 20.41%.

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.