Citizens Jmp Downgrades PJT Partners (NYSE:PJT) to Hold

Citizens Jmp downgraded shares of PJT Partners (NYSE:PJT) from a strong-buy rating to a hold rating in a research note published on Monday morning,Zacks.com reports.

Several other brokerages have also recently weighed in on PJT. Keefe, Bruyette & Woods reduced their price objective on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a research note on Monday. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday. Finally, UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and raised their price target for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, PJT Partners has an average rating of “Hold” and a consensus price target of $152.25.

PJT Partners Stock Performance

PJT stock opened at $152.15 on Monday. The firm has a fifty day moving average price of $159.27 and a 200 day moving average price of $138.39. PJT Partners has a fifty-two week low of $88.51 and a fifty-two week high of $168.92. The firm has a market cap of $3.61 billion, a PE ratio of 38.62 and a beta of 0.66.

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

PJT Partners Announces Dividend

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

Insider Activity

In other news, Director James Costos sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the transaction, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. This 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 the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now owns 9,100 shares of the company’s stock, valued at $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is currently owned by insiders.

Institutional Trading of PJT Partners

A number of large investors have recently modified their holdings of PJT. Quarry LP increased its holdings in PJT Partners by 186.3% during the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the period. GAMMA Investing LLC boosted its position in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 146 shares in the last quarter. KBC Group NV increased its holdings in shares of PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 426 shares during the period. nVerses Capital LLC bought a new position in shares of PJT Partners in the 3rd quarter worth $213,000. Finally, D.A. Davidson & CO. bought a new position in shares of PJT Partners in the 3rd quarter worth $234,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.