M&T Bank Corp Boosts Stock Position in PJT Partners Inc. (NYSE:PJT)

M&T Bank Corp increased its position in PJT Partners Inc. (NYSE:PJT) by 3.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,220 shares of the financial services provider’s stock after acquiring an additional 75 shares during the quarter. M&T Bank Corp’s holdings in PJT Partners were worth $296,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position in shares of PJT Partners by 5.7% in the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after purchasing an additional 54,071 shares during the period. Champlain Investment Partners LLC lifted its stake in shares of PJT Partners by 7.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider’s stock valued at $79,252,000 after buying an additional 41,119 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in PJT Partners by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after buying an additional 22,117 shares during the period. FMR LLC increased its stake in PJT Partners by 10.9% in the 3rd quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock worth $55,639,000 after buying an additional 41,007 shares in the last quarter. Finally, Congress Asset Management Co. increased its stake in PJT Partners by 29.6% in the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after buying an additional 72,582 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PJT has been the topic of several research analyst reports. JMP Securities boosted their price objective on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, PJT Partners currently has an average rating of “Hold” and an average price target of $134.80.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $151.52 on Thursday. The firm’s fifty day moving average is $154.23 and its two-hundred day moving average is $131.65. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92. The company has a market cap of $3.59 billion, a P/E ratio of 38.46 and a beta of 0.65.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Insider Activity

In other PJT Partners news, Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. The trade was a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Costos sold 1,500 shares of the company’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 value of $242,115.00. Following the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is currently owned by insiders.

About PJT Partners

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.