PJT Partners (NYSE:PJT) Downgraded by Citizens Jmp to Hold

Citizens Jmp cut shares of PJT Partners (NYSE:PJT) from a strong-buy rating to a hold rating in a report published on Monday,Zacks.com reports.

Several other research firms have also recently weighed in on PJT. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their target price for the company from $130.00 to $175.00 in a research note on Friday, December 6th. Finally, Keefe, Bruyette & Woods lowered their price target on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $152.25.

PJT Partners Trading Down 1.6 %

PJT stock opened at $152.15 on Monday. The stock’s 50 day simple moving average is $159.27 and its 200 day simple moving average is $138.39. PJT Partners has a 12-month low of $88.51 and a 12-month high of $168.92. The stock has a market capitalization of $3.61 billion, a PE ratio of 38.62 and a beta of 0.66.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $313.46 million. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. On average, research analysts predict that PJT Partners will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. PJT Partners’s dividend payout ratio is currently 25.38%.

Insiders Place Their Bets

In related news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,766 shares of company stock worth $762,980. Company insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in PJT Partners by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock valued at $420,000 after buying an additional 67 shares in the last quarter. M&T Bank Corp grew its stake in PJT Partners by 3.5% during the third quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 75 shares in the last quarter. New York State Teachers Retirement System increased its holdings in PJT Partners by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock valued at $1,425,000 after acquiring an additional 100 shares during the last quarter. GAMMA Investing LLC increased its holdings in PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 109 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in PJT Partners by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

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.