Keefe, Bruyette & Woods Reaffirms “Market Perform” Rating for PJT Partners (NYSE:PJT)

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of PJT Partners (NYSE:PJT) in a research report sent to investors on Wednesday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a $128.00 target price on the financial services provider’s stock, up from their previous target price of $108.00.

A number of other brokerages also recently commented on PJT. UBS Group raised their price objective on PJT Partners from $85.00 to $93.00 and gave the stock a sell rating in a research report on Tuesday, July 9th. JMP Securities reaffirmed a market outperform rating and issued a $110.00 price target on shares of PJT Partners in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $116.80.

PJT Partners Stock Performance

Shares of NYSE:PJT opened at $122.61 on Wednesday. The stock’s 50-day moving average is $111.71 and its 200-day moving average is $102.86. The company has a market cap of $2.94 billion, a P/E ratio of 33.78 and a beta of 0.62. PJT Partners has a 52-week low of $71.47 and a 52-week high of $136.90.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million during the quarter, compared to the consensus estimate of $281.93 million. PJT Partners had a return on equity of 18.12% and a net margin of 7.96%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 EPS. As a group, equities analysts predict that PJT Partners will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, September 4th. PJT Partners’s dividend payout ratio is currently 27.55%.

Insider Activity

In related news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the transaction, the director now owns 7,404 shares in the company, valued at approximately $968,369.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.67% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PJT. SouthState Corp bought a new position in PJT Partners in the 2nd quarter valued at $26,000. Versor Investments LP bought a new position in PJT Partners in the second quarter valued at about $746,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock worth $11,427,000 after purchasing an additional 20,845 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in PJT Partners by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock worth $1,295,000 after purchasing an additional 158 shares during the period. Finally, Louisiana State Employees Retirement System raised its holdings in PJT Partners by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 100 shares during the last quarter. 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.