MAI Capital Management Grows Holdings in PJT Partners Inc. (NYSE:PJT)

MAI Capital Management raised its position in PJT Partners Inc. (NYSE:PJT) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 110,134 shares of the financial services provider’s stock after buying an additional 1,335 shares during the period. MAI Capital Management owned approximately 0.46% of PJT Partners worth $14,685,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PJT. Thrivent Financial for Lutherans grew its position in shares of PJT Partners by 2.0% during the third quarter. Thrivent Financial for Lutherans now owns 18,685 shares of the financial services provider’s stock worth $2,491,000 after buying an additional 367 shares in the last quarter. KBC Group NV boosted its stake in PJT Partners by 113.0% during 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 last quarter. Los Angeles Capital Management LLC bought a new position in PJT Partners during the 3rd quarter valued at $453,000. Crossmark Global Holdings Inc. acquired a new position in PJT Partners during the 3rd quarter worth $262,000. Finally, Atria Investments Inc increased its position in shares of PJT Partners by 5.9% in the 3rd quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 142 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Trading Down 0.6 %

Shares of PJT Partners stock opened at $156.31 on Tuesday. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 39.67 and a beta of 0.61. PJT Partners Inc. has a twelve month low of $82.64 and a twelve month high of $163.85. The business’s 50 day simple moving average is $140.25 and its 200-day simple moving average is $122.28.

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

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.64%. PJT Partners’s payout ratio is 25.38%.

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 value of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This trade represents a 14.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,453,725. This represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,367 shares of company stock worth $3,633,828 over the last ninety days. Company insiders own 11.71% of the company’s stock.

Analyst Ratings Changes

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

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.