Harvest Fund Management Co. Ltd Takes $247,000 Position in PJT Partners Inc. (NYSE:PJT)

Harvest Fund Management Co. Ltd purchased a new stake in PJT Partners Inc. (NYSE:PJT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,564 shares of the financial services provider’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Securities Inc. grew its position in PJT Partners by 385.4% during the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 158 shares during the last quarter. Quarry LP grew its position in PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC grew its position in PJT Partners by 32.3% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 109 shares during the last quarter. PNC Financial Services Group Inc. grew its position in PJT Partners by 51.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 176 shares during the last quarter. Finally, KBC Group NV grew its position in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PJT. Citizens Jmp lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods lifted their target price on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $158.50.

PJT Partners Trading Up 1.1 %

Shares of PJT opened at $144.08 on Friday. The company has a market capitalization of $3.36 billion, a PE ratio of 29.40 and a beta of 0.68. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $190.28. The stock’s 50-day moving average price is $159.59 and its two-hundred day moving average price is $151.77.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.71. The company had revenue of $477.30 million for the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm’s revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Wednesday, March 5th. PJT Partners’s dividend payout ratio 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.