PJT Partners Inc. (PJT) to Issue Quarterly Dividend of $0.25 on June 20th

PJT Partners Inc. (NYSE:PJT) declared a quarterly dividend on Thursday, May 2nd, Zacks reports. Investors of record on Wednesday, June 5th will be paid a dividend of 0.25 per share by the financial services provider on Thursday, June 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, June 5th.

PJT Partners has raised its dividend by an average of 71.0% annually over the last three years. PJT Partners has a dividend payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PJT Partners to earn $5.30 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 18.9%.

PJT Partners Trading Up 1.1 %

PJT stock opened at $99.53 on Friday. The stock has a market cap of $2.38 billion, a P/E ratio of 27.42 and a beta of 0.67. PJT Partners has a twelve month low of $59.61 and a twelve month high of $107.35. The company’s 50 day moving average is $96.57 and its two-hundred day moving average is $93.78.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.45 by $0.53. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The firm had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same period last year, the business earned $0.54 EPS. PJT Partners’s revenue for the quarter was up 64.7% compared to the same quarter last year. On average, equities research analysts predict that PJT Partners will post 3.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on PJT. The Goldman Sachs Group restated a “neutral” rating and set a $99.00 price target (down previously from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. UBS Group restated a “sell” rating and issued a $75.00 price objective (down from $100.00) on shares of PJT Partners in a research note on Tuesday, March 26th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, PJT Partners presently has an average rating of “Hold” and an average target price of $93.25.

Insider Activity at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares of the company’s stock, valued at $143,636.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the transaction, the insider now owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock worth $2,875,672 in the last three months. Insiders own 10.67% 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.