PJT Partners Inc. $PJT Shares Bought by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. raised its position in shares of PJT Partners Inc. (NYSE:PJT) by 130.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 5,320 shares of the financial services provider’s stock after buying an additional 3,015 shares during the period. Pittenger & Anderson Inc.’s holdings in PJT Partners were worth $878,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PJT. Nuveen LLC purchased a new stake in PJT Partners during the first quarter valued at about $12,587,000. Massachusetts Financial Services Co. MA lifted its stake in PJT Partners by 52.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider’s stock valued at $23,438,000 after buying an additional 58,656 shares in the last quarter. Millennium Management LLC lifted its stake in PJT Partners by 1,394.5% during the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after buying an additional 49,046 shares in the last quarter. Trexquant Investment LP lifted its stake in PJT Partners by 188.2% during the first quarter. Trexquant Investment LP now owns 51,966 shares of the financial services provider’s stock valued at $7,165,000 after buying an additional 33,934 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at about $3,948,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 500 shares of the company’s stock, valued at approximately $88,445. This represents a 75.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $178.06, for a total value of $407,401.28. The disclosure for this sale can be found here. Company insiders own 11.75% of the company’s stock.

PJT Partners Stock Performance

NYSE:PJT opened at $177.18 on Wednesday. The stock’s 50 day moving average price is $179.39 and its 200 day moving average price is $164.32. PJT Partners Inc. has a 52 week low of $119.76 and a 52 week high of $190.27. The company has a market capitalization of $4.31 billion, a P/E ratio of 30.44 and a beta of 0.76.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 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 company had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. During the same quarter last year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, sell-side 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 was Wednesday, September 3rd. PJT Partners’s dividend payout ratio (DPR) is 17.18%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a report on Wednesday, October 8th. Evercore ISI set a $180.00 target price on PJT Partners in a report on Monday, October 13th. Keefe, Bruyette & Woods dropped their target price on PJT Partners from $196.00 to $180.00 and set a “hold” rating on the stock in a report on Monday, October 13th. BMO Capital Markets assumed coverage on PJT Partners in a report on Friday, October 3rd. They issued an “outperform” rating and a $205.00 target price on the stock. Finally, Wolfe Research reiterated an “underperform” rating on shares of PJT Partners in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $185.00.

PJT Partners 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.