OLD National Bancorp IN Boosts Stake in PJT Partners Inc. $PJT

OLD National Bancorp IN lifted its holdings in PJT Partners Inc. (NYSE:PJT) by 6.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,653 shares of the financial services provider’s stock after purchasing an additional 93 shares during the quarter. OLD National Bancorp IN’s holdings in PJT Partners were worth $273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PJT. Wealth Enhancement Advisory Services LLC purchased a new position in shares of PJT Partners in the fourth quarter worth $201,000. Portside Wealth Group LLC increased its position in PJT Partners by 17.8% during the first quarter. Portside Wealth Group LLC now owns 5,512 shares of the financial services provider’s stock valued at $760,000 after acquiring an additional 833 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in PJT Partners during the first quarter valued at $1,034,000. GAMMA Investing LLC increased its position in PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in PJT Partners during the first quarter valued at $3,788,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. BMO Capital Markets assumed coverage on PJT Partners in a research report on Friday, October 3rd. They set an “outperform” rating and a $205.00 price objective for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research report on Saturday, September 27th. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $161.00 to $199.00 and gave the company a “market perform” rating in a research report on Monday, July 14th. Finally, Wolfe Research reiterated an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $182.25.

PJT Partners Stock Performance

NYSE:PJT opened at $176.72 on Wednesday. The stock has a 50-day simple moving average of $180.31 and a two-hundred day simple moving average of $161.87. PJT Partners Inc. has a 52-week low of $119.76 and a 52-week high of $190.27. The firm has a market capitalization of $4.30 billion, a PE ratio of 30.36 and a beta of 0.76.

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

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. PJT Partners’s payout ratio is currently 17.18%.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 2,288 shares of the company’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares of the company’s stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.75% 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.