Congress Asset Management Co. Raises Stock Position in PJT Partners Inc. (NYSE:PJT)

Congress Asset Management Co. lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 29.6% during the 3rd quarter, Holdings Channel reports. The firm owned 317,974 shares of the financial services provider’s stock after buying an additional 72,582 shares during the period. Congress Asset Management Co.’s holdings in PJT Partners were worth $42,399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SouthState Corp purchased a new position in PJT Partners in the 2nd quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the second quarter valued at $30,000. Fidelis Capital Partners LLC acquired a new stake in shares of PJT Partners in the first quarter valued at $39,000. GAMMA Investing LLC boosted its holdings in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 146 shares during the period. Finally, EntryPoint Capital LLC grew its stake in PJT Partners by 27.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners 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 transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the company’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 sale, the director now owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,601 shares of company stock worth $2,870,848. Insiders own 10.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PJT. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. JMP Securities boosted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. UBS Group raised their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners Trading Down 1.4 %

NYSE:PJT traded down $1.96 during midday trading on Thursday, hitting $135.86. 50,804 shares of the company were exchanged, compared to its average volume of 232,373. PJT Partners Inc. has a fifty-two week low of $76.22 and a fifty-two week high of $151.10. The company has a market capitalization of $3.26 billion, a PE ratio of 37.97 and a beta of 0.61. The company has a fifty day simple moving average of $132.74 and a 200 day simple moving average of $117.11.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The business had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The business’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, equities research analysts expect that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is currently 27.55%.

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.