M&T Bank Corp Acquires 75 Shares of PJT Partners Inc. (NYSE:PJT)

M&T Bank Corp lifted its stake in PJT Partners Inc. (NYSE:PJT) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,220 shares of the financial services provider’s stock after purchasing an additional 75 shares during the quarter. M&T Bank Corp’s holdings in PJT Partners were worth $296,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new position in PJT Partners during the third quarter valued at $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of PJT Partners by 24.5% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after acquiring an additional 20,845 shares in the last quarter. Citigroup Inc. raised its position in shares of PJT Partners by 101.1% in the 3rd quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock worth $4,014,000 after purchasing an additional 15,135 shares during the last quarter. Atria Investments Inc boosted its stake in PJT Partners by 5.9% in the 3rd quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 142 shares in the last quarter. Finally, AdvisorShares Investments LLC purchased a new stake in PJT Partners during the 2nd quarter valued at about $535,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Performance

PJT opened at $151.52 on Thursday. The company’s 50-day simple moving average is $154.23 and its two-hundred day simple moving average is $131.65. The stock has a market capitalization of $3.59 billion, a P/E ratio of 38.46 and a beta of 0.65. 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 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 company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter 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 company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.66%. PJT Partners’s dividend payout ratio (DPR) is currently 25.38%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PJT shares. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities boosted their price objective 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 investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $134.80.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total transaction of $245,296.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares in the company, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 over the last 90 days. Company insiders own 11.71% of the company’s stock.

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.