Los Angeles Capital Management LLC Purchases New Stake in PJT Partners Inc. (NYSE:PJT)

Los Angeles Capital Management LLC purchased a new stake in shares of PJT Partners Inc. (NYSE:PJT) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,396 shares of the financial services provider’s stock, valued at approximately $453,000.

Several other institutional investors have also recently bought and sold shares of the business. Champlain Investment Partners LLC bought a new stake in shares of PJT Partners during the first quarter worth about $43,029,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PJT Partners by 24.5% in 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 purchasing an additional 20,845 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of PJT Partners in the second quarter valued at approximately $535,000. Raymond James & Associates boosted its position in shares of PJT Partners by 5.4% during the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock valued at $15,370,000 after buying an additional 5,929 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in PJT Partners by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock worth $230,669,000 after buying an additional 17,463 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT stock opened at $157.32 on Friday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 39.93 and a beta of 0.61. PJT Partners Inc. has a 52 week low of $82.64 and a 52 week high of $163.85. The firm’s 50-day simple moving average is $140.25 and its two-hundred day simple moving average is $122.08.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping 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 analysts’ expectations of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 EPS. PJT Partners’s revenue was up 17.2% on a year-over-year basis. Analysts forecast that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. PJT Partners’s payout ratio is 25.38%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PJT. The Goldman Sachs Group lifted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. UBS Group lifted their target price on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Finally, JMP Securities upped their target price on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $123.80.

Insider Buying and Selling

In related news, Director James Costos sold 1,500 shares of PJT Partners 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 transaction, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,367 shares of company stock valued at $3,633,828. 11.71% of the stock is owned by insiders.

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.