PJT Partners Inc. Announces Quarterly Dividend of $0.25 (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, December 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Wednesday, December 4th.

PJT Partners has increased its dividend payment by an average of 71.0% annually over the last three years. PJT Partners has a payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Stock Down 1.2 %

Shares of PJT stock traded down $1.65 during trading hours on Wednesday, hitting $137.02. 47,832 shares of the company were exchanged, compared to its average volume of 231,492. PJT Partners has a 1 year low of $76.22 and a 1 year high of $151.10. The firm has a fifty day moving average of $132.45 and a 200 day moving average of $116.96. The firm has a market cap of $3.29 billion, a PE ratio of 37.98 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same quarter last year, the firm posted $0.78 earnings per share. PJT Partners’s revenue was up 17.2% on a year-over-year basis. Analysts expect that PJT Partners will post 4.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. UBS Group boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Finally, JMP Securities increased their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $123.80.

Insiders Place Their Bets

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at approximately $62,430. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the sale, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This trade 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 90 days. 10.67% of the stock is owned by company 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.