UBS Group Boosts PJT Partners (NYSE:PJT) Price Target to $120.00

PJT Partners (NYSE:PJT) had its target price hoisted by UBS Group from $110.00 to $120.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a sell rating on the financial services provider’s stock.

Several other analysts have also recently commented on PJT. Keefe, Bruyette & Woods reiterated a market perform rating and set a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their target price on shares of PJT Partners from $115.00 to $132.00 and gave the company a neutral rating in a research report on Wednesday, July 31st. Finally, JMP Securities upped their target price on shares of PJT Partners from $120.00 to $142.00 and gave the company a market outperform rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $123.80.

PJT Partners Stock Performance

NYSE:PJT opened at $144.32 on Tuesday. The stock’s fifty day moving average price is $126.94 and its two-hundred day moving average price is $112.54. PJT Partners has a 52-week low of $71.47 and a 52-week high of $146.04. The company has a market cap of $3.43 billion, a price-to-earnings ratio of 37.68 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. During the same quarter in the prior year, the business earned $0.99 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts predict that PJT Partners will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s dividend payout ratio is currently 26.11%.

Insider Activity at PJT Partners

In related news, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares in the company, valued at $1,029,783.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares in the company, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,297 shares of company stock worth $3,092,668 in the last quarter. Corporate insiders own 11.71% of the company’s stock.

Institutional Trading of PJT Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. Illinois Municipal Retirement Fund acquired a new stake in shares of PJT Partners in the 1st quarter valued at about $1,262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PJT Partners by 36.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock valued at $8,017,000 after acquiring an additional 22,556 shares during the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of PJT Partners in the first quarter valued at about $43,029,000. BNP Paribas Financial Markets increased its position in shares of PJT Partners by 116.0% in the first quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider’s stock valued at $3,888,000 after acquiring an additional 22,157 shares during the last quarter. Finally, FORA Capital LLC bought a new position in PJT Partners during the first quarter worth about $647,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.