MAI Capital Management Has $14.69 Million Holdings in PJT Partners Inc. (NYSE:PJT)

MAI Capital Management lifted its stake in PJT Partners Inc. (NYSE:PJT) by 1.2% in the third quarter, Holdings Channel.com reports. The firm owned 110,134 shares of the financial services provider’s stock after acquiring an additional 1,335 shares during the quarter. MAI Capital Management’s holdings in PJT Partners were worth $14,685,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. SouthState Corp acquired a new position in PJT Partners in the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in PJT Partners in the second quarter worth approximately $30,000. GAMMA Investing LLC raised its position in PJT Partners by 76.4% during the third 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 lifted its stake in PJT Partners by 113.0% in the third 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. Finally, EntryPoint Capital LLC grew its position in PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 359 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Stock Down 0.6 %

Shares of NYSE:PJT opened at $156.31 on Tuesday. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 39.67 and a beta of 0.61. The business has a 50 day moving average price of $140.25 and a 200 day moving average price of $122.28. PJT Partners Inc. has a twelve month low of $82.64 and a twelve month high of $163.85.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating 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 company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. During the same period in the prior year, the business earned $0.78 earnings per share. PJT Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. Analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Dividend Announcement

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

Insider Buying and Selling

In other news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This represents a 15.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now owns 500 shares of the company’s stock, valued at $62,430. This trade represents a 80.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,367 shares of company stock valued at $3,633,828 over the last quarter. Corporate insiders own 11.71% of the company’s stock.

Analyst Ratings Changes

PJT has been the subject of several analyst reports. JMP Securities lifted their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped 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. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Finally, UBS Group upped 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. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, PJT Partners currently has an average rating of “Hold” and a consensus price target of $123.80.

PJT Partners Company 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.