PJT Partners Inc. (NYSE:PJT) Plans $0.25 Quarterly Dividend

PJT Partners Inc. (NYSE:PJT) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, December 18th. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, December 4th.

PJT Partners has raised its dividend payment by an average of 71.0% annually over the last three years. PJT Partners has a dividend payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Stock Performance

NYSE PJT opened at $137.82 on Thursday. PJT Partners has a one year low of $76.22 and a one year high of $151.10. The stock has a 50-day moving average of $132.45 and a 200 day moving average of $116.96. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 37.97 and a beta of 0.61.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.74 by $0.19. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The company had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same period last year, the company earned $0.78 EPS. PJT Partners’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts predict that PJT Partners will post 4.35 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock valued at $2,870,848 in the last ninety days. Corporate insiders own 10.67% of the company’s stock.

Analyst Upgrades and Downgrades

PJT has been the subject of several research analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities raised their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Finally, UBS Group raised 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 equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently 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.