Geode Capital Management LLC lifted its stake in PJT Partners Inc (NYSE:PJT) by 14.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 317,544 shares of the financial services provider’s stock after purchasing an additional 39,993 shares during the quarter. Geode Capital Management LLC’s holdings in PJT Partners were worth $13,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also modified their holdings of the stock. WASHINGTON TRUST Co acquired a new stake in shares of PJT Partners in the 1st quarter valued at $28,000. Marshall Wace LLP acquired a new stake in shares of PJT Partners in the 4th quarter valued at $51,000. Meeder Asset Management Inc. acquired a new stake in shares of PJT Partners in the 4th quarter valued at $61,000. Bank of Montreal Can lifted its stake in shares of PJT Partners by 37.2% in the 4th quarter. Bank of Montreal Can now owns 3,122 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 846 shares during the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of PJT Partners in the 4th quarter valued at $176,000. 64.52% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of PJT Partners from $56.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. JMP Securities cut their target price on shares of PJT Partners from $59.00 to $57.00 and set a “market outperform” rating for the company in a research report on Thursday, April 9th. ValuEngine raised shares of PJT Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 27th. Finally, Zacks Investment Research lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, June 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.25.
In related news, General Counsel James W. Cuminale sold 13,369 shares of the company’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $49.14, for a total value of $656,952.66. Following the sale, the general counsel now owns 25,855 shares of the company’s stock, valued at $1,270,514.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 9.10% of the company’s stock.
NYSE:PJT opened at $49.96 on Wednesday. The firm’s 50-day moving average is $51.88 and its 200-day moving average is $46.37. PJT Partners Inc has a 52-week low of $23.63 and a 52-week high of $58.00. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.72 and a current ratio of 3.72. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 26.43 and a beta of 0.98.
PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.26. PJT Partners had a net margin of 5.99% and a return on equity of 20.97%. The company had revenue of $200.17 million for the quarter, compared to the consensus estimate of $215.48 million. Equities analysts predict that PJT Partners Inc will post 2.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 0.40%. PJT Partners’s payout ratio is currently 8.30%.
PJT Partners Company Profile
PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
Recommended Story: How To Calculate Debt-to-Equity Ratio
Want to see what other hedge funds are holding PJT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PJT Partners Inc (NYSE:PJT).
Receive News & Ratings for PJT Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PJT Partners and related companies with MarketBeat.com's FREE daily email newsletter.