State of New Jersey Common Pension Fund D Cuts Position in PJT Partners Inc. (NYSE:PJT)

State of New Jersey Common Pension Fund D lessened its position in shares of PJT Partners Inc. (NYSE:PJT) by 15.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,496 shares of the financial services provider’s stock after selling 2,426 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of PJT Partners worth $2,130,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in PJT Partners by 5.7% during the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares in the last quarter. Geode Capital Management LLC grew its holdings in PJT Partners by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after buying an additional 45,327 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in PJT Partners by 7.4% during the 3rd quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider’s stock valued at $79,252,000 after buying an additional 41,119 shares in the last quarter. FMR LLC lifted its stake in shares of PJT Partners by 10.9% in the 3rd quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock valued at $55,639,000 after purchasing an additional 41,007 shares during the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of PJT Partners by 27.6% in the 4th quarter. Congress Asset Management Co. now owns 405,681 shares of the financial services provider’s stock valued at $64,021,000 after purchasing an additional 87,707 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Citizens Jmp lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and raised their price objective for the company from $130.00 to $175.00 in a research note on Friday, December 6th. Finally, JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $158.50.

PJT Partners Stock Performance

Shares of PJT stock opened at $162.87 on Friday. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $190.27. The firm has a market capitalization of $3.86 billion, a P/E ratio of 33.24 and a beta of 0.67. The stock has a 50 day moving average price of $163.34 and a 200 day moving average price of $148.44.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. During the same period last year, the company earned $0.96 EPS. PJT Partners’s quarterly revenue was up 45.3% compared to the same quarter last year. As a group, sell-side analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners’s dividend payout ratio is currently 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.