Swiss National Bank Reduces Stake in PJT Partners Inc. (NYSE:PJT)

Swiss National Bank lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 0.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,535 shares of the financial services provider’s stock after selling 200 shares during the period. Swiss National Bank owned 0.19% of PJT Partners worth $5,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. SouthState Corp purchased a new position in PJT Partners during the second quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of PJT Partners during the 2nd quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in shares of PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. KBC Group NV lifted its holdings in PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 426 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new position in PJT Partners in the second quarter worth approximately $204,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $165.74 on Wednesday. The firm’s 50-day moving average is $144.83 and its two-hundred day moving average is $124.83. PJT Partners Inc. has a 1 year low of $85.87 and a 1 year high of $168.92. The firm has a market capitalization of $3.93 billion, a PE ratio of 42.06 and a beta of 0.61.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.78 EPS. Analysts expect that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Analysts Set New Price Targets

PJT has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, JMP Securities upped their price objective 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $123.80.

Insider Buying and Selling

In other news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s 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 sale, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. This trade represents a 14.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,352 shares of company stock valued at $3,382,235 in the last three months. 11.71% of the stock is owned by corporate insiders.

PJT Partners 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.