Legal & General Group Plc Cuts Position in PJT Partners Inc. (NYSE:PJT)

Legal & General Group Plc reduced its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,742 shares of the financial services provider’s stock after selling 913 shares during the quarter. Legal & General Group Plc owned 0.28% of PJT Partners worth $10,533,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Sanctuary Advisors LLC boosted its position in PJT Partners by 2.9% during the 4th quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 65 shares during the period. M&T Bank Corp lifted its stake in shares of 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 worth $296,000 after purchasing an additional 75 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of PJT Partners by 32.3% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after buying an additional 109 shares during the period. Xponance Inc. grew its stake in shares of PJT Partners by 7.4% in the fourth quarter. Xponance Inc. now owns 1,659 shares of the financial services provider’s stock valued at $262,000 after buying an additional 115 shares in the last quarter. Finally, Atria Investments Inc grew its stake in shares of PJT Partners by 5.0% in the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider’s stock valued at $425,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PJT Partners Stock Down 2.4 %

Shares of PJT opened at $129.02 on Thursday. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of 26.33 and a beta of 0.77. The business’s 50 day moving average is $147.70 and its two-hundred day moving average is $152.73. PJT Partners Inc. has a 52-week low of $90.95 and a 52-week high of $190.28.

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

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. PJT Partners’s dividend payout ratio (DPR) is 20.41%.

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.