PJT Partners Inc. (NYSE:PJT) Plans Quarterly Dividend of $0.25

PJT Partners Inc. (NYSE:PJT) announced a quarterly dividend on Tuesday, July 25th, Zacks reports. Investors of record on Wednesday, September 6th will be given a dividend of 0.25 per share by the financial services provider on Wednesday, September 20th. This represents a $1.00 annualized dividend and a yield of 1.26%. The ex-dividend date is Tuesday, September 5th.

PJT Partners has raised its dividend payment by an average of 71.0% annually over the last three years and has raised its dividend every year for the last 1 years. PJT Partners has a dividend payout ratio of 21.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect PJT Partners to earn $4.70 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 21.3%.

PJT Partners Trading Up 0.8 %

PJT stock opened at $79.65 on Monday. The stock has a market cap of $1.93 billion, a PE ratio of 24.14 and a beta of 0.78. PJT Partners has a 12 month low of $59.61 and a 12 month high of $86.92. The company has a 50-day moving average price of $76.13 and a 200 day moving average price of $73.05.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.38. PJT Partners had a return on equity of 17.24% and a net margin of 7.79%. The business had revenue of $346.30 million during the quarter, compared to analyst estimates of $240.57 million. During the same quarter in the previous year, the business earned $0.88 earnings per share. The company’s revenue for the quarter was up 48.6% compared to the same quarter last year. Sell-side analysts forecast that PJT Partners will post 3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PJT shares. JMP Securities upped their price objective on PJT Partners from $88.00 to $94.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 26th. Wolfe Research downgraded shares of PJT Partners from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, July 25th. Finally, StockNews.com raised shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Thursday.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 7,934 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $75.03, for a total transaction of $595,288.02. Following the transaction, the insider now owns 105,487 shares of the company’s stock, valued at approximately $7,914,689.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 10.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PJT Partners

Several large investors have recently modified their holdings of the business. Nuveen Asset Management LLC increased its holdings in PJT Partners by 2.1% during the second quarter. Nuveen Asset Management LLC now owns 95,085 shares of the financial services provider’s stock valued at $6,622,000 after buying an additional 1,972 shares during the period. Wells Fargo & Company MN increased its holdings in shares of PJT Partners by 59.6% in the 2nd quarter. Wells Fargo & Company MN now owns 124,908 shares of the financial services provider’s stock valued at $8,699,000 after acquiring an additional 46,657 shares during the period. Walleye Capital LLC raised its position in shares of PJT Partners by 5,714.8% in the 2nd quarter. Walleye Capital LLC now owns 178,979 shares of the financial services provider’s stock worth $12,464,000 after acquiring an additional 175,901 shares in the last quarter. Walleye Trading LLC purchased a new stake in shares of PJT Partners during the 2nd quarter worth $775,000. Finally, Captrust Financial Advisors bought a new stake in PJT Partners during the second quarter valued at about $201,000. Institutional investors own 73.40% of the company’s stock.

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.