Cerity Partners LLC Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Cerity Partners LLC acquired a new position in PJT Partners Inc. (NYSE:PJT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,147 shares of the financial services provider’s stock, valued at approximately $219,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Walleye Trading LLC raised its position in shares of PJT Partners by 1.2% during the third quarter. Walleye Trading LLC now owns 11,271 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 136 shares during the last quarter. Prospector Partners LLC raised its position in shares of PJT Partners by 0.4% during the third quarter. Prospector Partners LLC now owns 59,850 shares of the financial services provider’s stock worth $4,754,000 after acquiring an additional 250 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC raised its position in shares of PJT Partners by 2.7% during the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 10,263 shares of the financial services provider’s stock worth $815,000 after acquiring an additional 267 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of PJT Partners by 3.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,683 shares of the financial services provider’s stock worth $1,088,000 after acquiring an additional 374 shares during the last quarter. Finally, Swiss National Bank increased its holdings in PJT Partners by 1.0% in the third quarter. Swiss National Bank now owns 51,835 shares of the financial services provider’s stock valued at $4,118,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $95.27 on Tuesday. PJT Partners Inc. has a 1 year low of $59.61 and a 1 year high of $107.35. The business has a 50-day moving average of $97.08 and a two-hundred day moving average of $93.47. The company has a market capitalization of $2.28 billion, a P/E ratio of 30.93 and a beta of 0.68.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.20. The company had revenue of $328.60 million during the quarter, compared to the consensus estimate of $304.26 million. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. On average, equities analysts anticipate that PJT Partners Inc. will post 3.85 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.05%. PJT Partners’s dividend payout ratio is currently 32.47%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $99.00 price objective (down previously from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. UBS Group reiterated a “sell” rating and issued a $75.00 price objective (down previously from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Finally, Wolfe Research reiterated an “underperform” rating and issued a $89.00 price objective on shares of PJT Partners in a report on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $93.25.

Insider Activity at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the completion of the transaction, the general counsel now directly owns 1,541 shares of the company’s stock, valued at $143,636.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares in the company, valued at $7,678,368.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,926 shares of company stock valued at $2,875,672. Insiders own 10.67% 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.