PJT Partners Inc. (NYSE:PJT) Position Trimmed by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in PJT Partners Inc. (NYSE:PJT) by 24.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,285 shares of the financial services provider’s stock after selling 33,668 shares during the period. Wells Fargo & Company MN owned approximately 0.44% of PJT Partners worth $16,299,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of PJT Partners in the 4th quarter valued at approximately $89,192,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of PJT Partners by 658.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider’s stock valued at $28,628,000 after purchasing an additional 157,483 shares in the last quarter. Norges Bank acquired a new stake in shares of PJT Partners in the fourth quarter worth $20,269,000. Vanguard Group Inc. grew its holdings in shares of PJT Partners by 5.3% during the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock valued at $396,987,000 after buying an additional 127,060 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in PJT Partners during the fourth quarter valued at $17,569,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $131.45 on Tuesday. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 26.83 and a beta of 0.77. The business has a 50 day simple moving average of $149.49 and a 200 day simple moving average of $153.03. PJT Partners Inc. has a 52 week low of $90.95 and a 52 week high of $190.28.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $477.30 million for the quarter, compared to analyst estimates of $384.64 million. During the same quarter in the prior year, the business posted $0.96 EPS. PJT Partners’s quarterly revenue was up 45.3% on a year-over-year basis. On average, analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.76%. PJT Partners’s dividend payout ratio (DPR) is presently 20.41%.

Analyst Ratings Changes

PJT has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, JMP Securities downgraded shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $158.50.

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.