Key Points
- PJT Partners General Counsel David Adam Travin sold 3,000 shares on May 6 at an average price of $152.43, totaling $457,290. After the sale, he held 2,052 shares, a 59.38% reduction in his position.
- The company reported stronger-than-expected quarterly results, with earnings of $1.54 per share versus the $1.51 consensus and revenue of $418.2 million, up 28.9% from a year earlier.
- PJT Partners also declared a quarterly dividend of $0.25 per share, payable June 17, implying a 0.6% yield and a 14.58% payout ratio.
PJT Partners Inc. (NYSE:PJT - Get Free Report) General Counsel David Adam Travin sold 3,000 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, the general counsel owned 2,052 shares of the company's stock, valued at $312,786.36. The trade was a 59.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
PJT Partners Trading Up 0.9%
PJT opened at $154.53 on Friday. The stock has a market capitalization of $3.73 billion, a PE ratio of 22.53 and a beta of 0.86. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62. The firm has a 50-day moving average price of $145.48 and a two-hundred day moving average price of $161.45.
PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. On average, research analysts predict that PJT Partners Inc. will post 7.5 EPS for the current year.
PJT Partners Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners's dividend payout ratio (DPR) is 14.58%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its stake in PJT Partners by 51.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,850 shares of the financial services provider's stock worth $259,000 after acquiring an additional 626 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in PJT Partners during the 1st quarter worth approximately $50,000. Dimensional Fund Advisors LP boosted its stake in PJT Partners by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 369,377 shares of the financial services provider's stock worth $51,609,000 after acquiring an additional 9,337 shares during the last quarter. KBC Group NV boosted its stake in PJT Partners by 56.4% during the 1st quarter. KBC Group NV now owns 918 shares of the financial services provider's stock worth $128,000 after acquiring an additional 331 shares during the last quarter. Finally, Independent Financial Group LLC bought a new position in PJT Partners during the 1st quarter worth approximately $384,000. Institutional investors own 89.23% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on PJT. UBS Group raised their target price on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 target price on the stock in a research note on Wednesday, April 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PJT Partners in a research note on Thursday, January 22nd. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $173.33.
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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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