TD Asset Management Inc Buys 9,946 Shares of PJT Partners Inc. $PJT

TD Asset Management Inc boosted its stake in PJT Partners Inc. (NYSE:PJT) by 99.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,946 shares of the financial services provider’s stock after acquiring an additional 9,946 shares during the quarter. TD Asset Management Inc’s holdings in PJT Partners were worth $3,291,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PJT. BI Asset Management Fondsmaeglerselskab A S bought a new stake in PJT Partners in the 1st quarter valued at $45,000. Quarry LP bought a new stake in PJT Partners during the 1st quarter worth about $45,000. Morse Asset Management Inc lifted its position in PJT Partners by 1,640.0% during the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider’s stock worth $60,000 after buying an additional 410 shares in the last quarter. SouthState Corp lifted its position in PJT Partners by 126.7% during the 1st quarter. SouthState Corp now owns 544 shares of the financial services provider’s stock worth $75,000 after buying an additional 304 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in PJT Partners by 33.4% during the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider’s stock worth $82,000 after buying an additional 149 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at approximately $88,445. This represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Evercore ISI set a $180.00 price target on shares of PJT Partners in a research report on Monday, October 13th. BMO Capital Markets started coverage on shares of PJT Partners in a report on Friday, October 3rd. They issued an “outperform” rating and a $205.00 target price on the stock. Wolfe Research restated an “underperform” rating on shares of PJT Partners in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price objective on PJT Partners from $196.00 to $180.00 and set a “hold” rating for the company in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and a consensus target price of $185.00.

PJT Partners Stock Up 0.5%

PJT Partners stock opened at $178.10 on Tuesday. The stock has a market cap of $4.33 billion, a P/E ratio of 30.60 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $190.27. The company’s 50-day moving average price is $179.50 and its two-hundred day moving average price is $164.23.

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

PJT Partners Dividend Announcement

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 $0.25 dividend. 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 dividend payout ratio is currently 17.18%.

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.