JPMorgan Chase & Co. Increases Stock Holdings in PJT Partners Inc. (NYSE:PJT)

JPMorgan Chase & Co. raised its holdings in PJT Partners Inc. (NYSE:PJT) by 91.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 72,270 shares of the financial services provider’s stock after acquiring an additional 34,514 shares during the quarter. JPMorgan Chase & Co.’s holdings in PJT Partners were worth $9,636,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PJT. Captrust Financial Advisors raised its position in shares of PJT Partners by 2.2% in the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 67 shares during the last quarter. M&T Bank Corp increased its stake in PJT Partners by 3.5% during the 3rd quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 75 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of PJT Partners by 0.9% in the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 100 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after buying an additional 120 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of PJT Partners by 3.3% during the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $454,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at PJT Partners

In related news, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 1,541 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 in the last three months. 11.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on PJT. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price target on shares of PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday.

PJT Partners Stock Performance

Shares of PJT opened at $152.15 on Tuesday. PJT Partners Inc. has a one year low of $88.51 and a one year high of $168.92. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 38.62 and a beta of 0.66. The stock has a 50 day moving average price of $159.27 and a 200 day moving average price of $138.39.

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

PJT Partners Announces Dividend

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

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.