BNP Paribas Financial Markets Raises Stock Holdings in PJT Partners Inc. (NYSE:PJT)

BNP Paribas Financial Markets grew its stake in PJT Partners Inc. (NYSE:PJT) by 40.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,747 shares of the financial services provider’s stock after buying an additional 9,510 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.14% of PJT Partners worth $4,366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Champlain Investment Partners LLC boosted its stake in shares of PJT Partners by 7.4% in the third quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider’s stock worth $79,252,000 after acquiring an additional 41,119 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after acquiring an additional 22,117 shares during the period. FMR LLC boosted its stake in shares of PJT Partners by 10.9% in the third quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock worth $55,639,000 after acquiring an additional 41,007 shares during the period. Congress Asset Management Co. boosted its stake in shares of 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, Charles Schwab Investment Management Inc. boosted its stake in shares of PJT Partners by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 252,090 shares of the financial services provider’s stock worth $33,614,000 after acquiring an additional 11,707 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PJT shares. UBS Group upped their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. JMP Securities upped their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $123.80.

Insider Activity at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,766 shares of company stock valued at $762,980. Insiders own 11.71% of the company’s stock.

PJT Partners Trading Up 0.2 %

Shares of PJT Partners stock opened at $161.09 on Thursday. The stock has a 50 day moving average of $149.12 and a 200 day moving average of $127.78. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $168.92. The firm has a market cap of $3.82 billion, a PE ratio of 40.89 and a beta of 0.65.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating 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 company had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 17.2% on a year-over-year basis. As a group, equities research analysts forecast that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is presently 25.38%.

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.