PJT Partners Inc. (NYSE:PJT - Get Free Report) CFO Helen Meates sold 8,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer directly owned 58,466 shares in the company, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
PJT Partners Stock Performance
PJT stock opened at $154.72 on Friday. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The business's 50-day moving average is $145.33 and its two-hundred day moving average is $162.13. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 22.55 and a beta of 0.86.
PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.03. The business had revenue of $418.20 million during the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business's quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. Equities analysts predict that PJT Partners Inc. will post 7.5 earnings per share for the current year.
PJT Partners Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be given a $0.25 dividend. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners's dividend payout ratio is presently 15.06%.
Institutional Trading of PJT Partners
Several institutional investors have recently made changes to their positions in the business. Wasatch Advisors LP grew its position in shares of PJT Partners by 40.4% during the first quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider's stock worth $115,204,000 after purchasing an additional 237,428 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PJT Partners by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider's stock worth $114,195,000 after purchasing an additional 16,388 shares in the last quarter. Morgan Stanley grew its position in shares of PJT Partners by 7.5% during the fourth quarter. Morgan Stanley now owns 659,729 shares of the financial services provider's stock worth $110,307,000 after purchasing an additional 45,758 shares in the last quarter. Congress Asset Management Co. grew its position in shares of PJT Partners by 9.9% during the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider's stock worth $97,632,000 after purchasing an additional 52,548 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of PJT Partners by 3.2% during the fourth quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider's stock worth $89,595,000 after purchasing an additional 16,445 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have commented on PJT shares. Zacks Research cut PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods upped their price target on PJT Partners from $166.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday. Weiss Ratings restated a "hold (c+)" rating on shares of PJT Partners in a research report on Thursday, January 22nd. UBS Group upped their price target on PJT Partners from $152.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Wall Street Zen cut PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $173.33.
Read Our Latest Stock Report on PJT
About PJT Partners
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PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.
The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.
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