Amalgamated Bank Acquires 214 Shares of PJT Partners Inc. (NYSE:PJT)

Amalgamated Bank lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 3.1% in the third quarter, HoldingsChannel.com reports. The fund owned 7,015 shares of the financial services provider’s stock after acquiring an additional 214 shares during the period. Amalgamated Bank’s holdings in PJT Partners were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PJT. Vanguard Group Inc. raised its stake in shares of PJT Partners by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock worth $230,669,000 after purchasing an additional 17,463 shares during the period. Dimensional Fund Advisors LP increased its holdings in PJT Partners by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after buying an additional 22,117 shares during the last quarter. Champlain Investment Partners LLC purchased a new stake in PJT Partners during the first quarter worth about $43,029,000. Congress Asset Management Co. raised its position in PJT Partners by 29.6% in the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after acquiring an additional 72,582 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in PJT Partners in the second quarter valued at about $13,803,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

PJT Partners Trading Up 0.1 %

PJT opened at $159.09 on Friday. The company has a 50 day moving average of $138.64 and a 200 day moving average of $121.20. PJT Partners Inc. has a 12 month low of $82.64 and a 12 month high of $163.85. The company has a market cap of $3.77 billion, a PE ratio of 40.38 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period last year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts forecast that PJT Partners Inc. will post 4.4 earnings per share 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. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is presently 25.38%.

Insider Activity

In related news, Director James Costos sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders have sold a total of 28,367 shares of company stock worth $3,633,828 over the last ninety days. Company insiders own 11.71% of the company’s stock.

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.