Bridgewater Associates LP Boosts Holdings in PJT Partners Inc. (NYSE:PJT)

Bridgewater Associates LP increased its holdings in PJT Partners Inc. (NYSE:PJT) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 12,642 shares of the financial services provider’s stock after buying an additional 659 shares during the quarter. Bridgewater Associates LP’s holdings in PJT Partners were worth $1,686,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PJT. Townsquare Capital LLC increased its stake in PJT Partners by 1.9% during the 3rd quarter. Townsquare Capital LLC now owns 27,743 shares of the financial services provider’s stock valued at $3,699,000 after purchasing an additional 508 shares in the last quarter. BNP Paribas Financial Markets increased its stake in PJT Partners by 40.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,747 shares of the financial services provider’s stock valued at $4,366,000 after purchasing an additional 9,510 shares in the last quarter. Quantbot Technologies LP increased its stake in PJT Partners by 106.2% during the 3rd quarter. Quantbot Technologies LP now owns 15,737 shares of the financial services provider’s stock valued at $2,098,000 after purchasing an additional 8,104 shares in the last quarter. FMR LLC increased its stake in PJT Partners by 10.9% during the 3rd quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock valued at $55,639,000 after purchasing an additional 41,007 shares in the last quarter. Finally, D.A. Davidson & CO. bought a new stake in PJT Partners during the 3rd quarter valued at about $234,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Up 1.3 %

Shares of PJT stock opened at $167.36 on Monday. The company has a 50 day moving average price of $147.49 and a 200-day moving average price of $126.66. PJT Partners Inc. has a 52 week low of $85.98 and a 52 week high of $168.92. The firm has a market capitalization of $3.97 billion, a PE ratio of 42.48 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. PJT Partners’s dividend payout ratio is presently 25.38%.

Insider Activity at PJT Partners

In related news, Director James Costos sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This trade represents a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,766 shares of company stock worth $1,951,480. 11.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JMP Securities raised their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group raised their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and a consensus target price of $123.80.

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.