PJT Partners Inc. (NYSE:PJT) Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its stake in PJT Partners Inc. (NYSE:PJT) by 366.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,745 shares of the financial services provider’s stock after purchasing an additional 7,656 shares during the period. New York State Teachers Retirement System’s holdings in PJT Partners were worth $993,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PJT. Jacobs Levy Equity Management Inc. acquired a new stake in shares of PJT Partners in the third quarter valued at about $14,387,000. Walleye Capital LLC increased its holdings in PJT Partners by 5,714.8% during the 2nd quarter. Walleye Capital LLC now owns 178,979 shares of the financial services provider’s stock valued at $12,464,000 after acquiring an additional 175,901 shares in the last quarter. Victory Capital Management Inc. increased its holdings in PJT Partners by 2,871.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,827 shares of the financial services provider’s stock valued at $12,809,000 after acquiring an additional 167,978 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in PJT Partners by 2,850.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 138,601 shares of the financial services provider’s stock valued at $10,005,000 after acquiring an additional 133,903 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new position in PJT Partners during the 3rd quarter valued at about $8,676,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PJT shares. The Goldman Sachs Group restated a “neutral” rating and set a $99.00 target price (down from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. UBS Group restated a “sell” rating and set a $75.00 target price (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. Finally, Wolfe Research restated an “underperform” rating and set a $89.00 target price on shares of PJT Partners in a report on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, PJT Partners has an average rating of “Hold” and a consensus target price of $93.25.

PJT Partners Price Performance

Shares of NYSE PJT opened at $91.21 on Friday. The company has a market cap of $2.18 billion, a PE ratio of 29.61 and a beta of 0.68. PJT Partners Inc. has a 12 month low of $59.61 and a 12 month high of $107.35. The company has a 50-day simple moving average of $98.00 and a 200-day simple moving average of $92.47.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.20. The business had revenue of $328.60 million during the quarter, compared to the consensus estimate of $304.26 million. PJT Partners had a net margin of 7.09% and a return on equity of 17.44%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 earnings per share. On average, analysts anticipate that PJT Partners Inc. will post 3.85 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. PJT Partners’s payout ratio is 32.47%.

Insider Activity at PJT Partners

In related news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the sale, the insider now directly owns 73,421 shares in the company, valued at $7,678,368.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now directly owns 48,821 shares in the company, valued at $5,151,103.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the sale, the insider now owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,926 shares of company stock worth $2,875,672. 10.67% of the stock is owned by company insiders.

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.