Keefe, Bruyette & Woods Issues Pessimistic Forecast for PJT Partners (NYSE:PJT) Stock Price

PJT Partners (NYSE:PJT) had its price objective lowered by Keefe, Bruyette & Woods from $159.00 to $152.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

Several other research firms also recently issued reports on PJT. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $175.00 in a report on Friday, December 6th.

PJT Partners Stock Performance

PJT Partners stock opened at $152.15 on Monday. PJT Partners has a 1 year low of $88.51 and a 1 year high of $168.92. The firm’s 50 day moving average price is $159.27 and its two-hundred day moving average price is $138.39. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 38.62 and a beta of 0.66.

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

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.66%. The ex-dividend date was Wednesday, December 4th. PJT Partners’s dividend payout ratio is currently 25.38%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the transaction, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. This represents a 15.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction 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 sale, the director now directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock valued at $762,980 in the last 90 days. 11.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds have recently modified their holdings of PJT. Point72 Asset Management L.P. acquired a new stake in PJT Partners during the second quarter valued at $13,803,000. Congress Asset Management Co. raised its stake in shares of PJT Partners by 29.6% during the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after purchasing an additional 72,582 shares in the last quarter. State Street Corp lifted its holdings in shares of PJT Partners by 5.7% during the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of PJT Partners in the 2nd quarter valued at approximately $5,801,000. Finally, Geode Capital Management LLC increased its holdings in PJT Partners by 7.9% in the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after buying an additional 45,327 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.