Independent Solutions Wealth Management LLC Buys Shares of 15,876 PJT Partners Inc. (NYSE:PJT)

Independent Solutions Wealth Management LLC purchased a new stake in shares of PJT Partners Inc. (NYSE:PJT) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 15,876 shares of the financial services provider’s stock, valued at approximately $2,505,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. State Street Corp grew its position in PJT Partners by 5.7% during the third 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 period. Geode Capital Management LLC boosted its stake in shares of PJT Partners by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after acquiring an additional 45,327 shares during the last quarter. Champlain Investment Partners LLC grew its position 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 acquiring an additional 41,119 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of PJT Partners in the 4th quarter worth $89,192,000. Finally, FMR LLC raised its holdings 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 purchasing an additional 41,007 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Down 0.4 %

NYSE PJT opened at $142.39 on Friday. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $190.28. The stock has a market cap of $3.32 billion, a PE ratio of 29.06 and a beta of 0.68. The stock’s 50 day moving average is $159.80 and its 200 day moving average is $151.63.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.19 by $0.71. The firm had revenue of $477.30 million for the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.70%. PJT Partners’s payout ratio is 20.41%.

Analysts Set New Price Targets

PJT has been the topic of several recent research reports. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $158.50.

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.