Massachusetts Financial Services Co. MA Takes $17.57 Million Position in PJT Partners Inc. (NYSE:PJT)

Massachusetts Financial Services Co. MA purchased a new position in PJT Partners Inc. (NYSE:PJT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 111,330 shares of the financial services provider’s stock, valued at approximately $17,569,000.

Other hedge funds have also recently bought and sold shares of the company. Trexquant Investment LP acquired a new stake in PJT Partners in the fourth quarter valued at $2,846,000. Geode Capital Management LLC boosted its position in shares of PJT Partners by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider’s stock worth $100,273,000 after buying an additional 16,233 shares in the last quarter. Alliancebernstein L.P. grew its stake in PJT Partners by 9.8% in the 4th quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider’s stock valued at $74,914,000 after acquiring an additional 42,463 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in 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. Finally, Arrowstreet Capital Limited Partnership raised its position in PJT Partners by 658.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider’s stock worth $28,628,000 after acquiring an additional 157,483 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

NYSE:PJT opened at $126.01 on Monday. PJT Partners Inc. has a 1-year low of $90.95 and a 1-year high of $190.28. The firm has a 50 day simple moving average of $155.44 and a 200-day simple moving average of $153.45. The firm has a market cap of $2.94 billion, a PE ratio of 25.72 and a beta of 0.77.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.79%. PJT Partners’s dividend payout ratio is presently 20.41%.

Wall Street Analyst Weigh In

PJT has been the topic of several research reports. Keefe, Bruyette & Woods increased their price target 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. Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $158.50.

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.