Barclays PLC Boosts Stake in PJT Partners Inc. (NYSE:PJT)

Barclays PLC raised its holdings in PJT Partners Inc. (NYSE:PJT) by 158.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,045 shares of the financial services provider’s stock after acquiring an additional 31,922 shares during the period. Barclays PLC owned approximately 0.22% of PJT Partners worth $6,940,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of PJT. SouthState Corp purchased a new stake in PJT Partners during the second quarter valued at about $26,000. Quarry LP lifted its stake in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC boosted its holdings in 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 acquiring an additional 146 shares during the period. 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. Finally, nVerses Capital LLC purchased a new position in PJT Partners in the 3rd quarter worth approximately $213,000. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now directly owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 over the last three months. Company insiders own 11.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PJT. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities raised their price target 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. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, PJT Partners has a consensus rating of “Hold” and a consensus price target of $134.80.

PJT Partners Stock Performance

PJT opened at $151.52 on Thursday. The stock has a market capitalization of $3.59 billion, a PE ratio of 38.46 and a beta of 0.65. The stock’s 50 day moving average price is $154.23 and its 200-day moving average price is $131.65. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92.

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

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners’s payout ratio is currently 25.38%.

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.