Opal Wealth Advisors LLC Acquires Shares of 280 PJT Partners Inc. (NYSE:PJT)

Opal Wealth Advisors LLC acquired a new stake in PJT Partners Inc. (NYSE:PJT) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 280 shares of the financial services provider’s stock, valued at approximately $39,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock worth $396,987,000 after buying an additional 127,060 shares during the last quarter. FMR LLC lifted its position in PJT Partners by 52.8% during the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock worth $100,651,000 after acquiring an additional 220,526 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of PJT Partners by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider’s stock worth $100,273,000 after acquiring an additional 16,233 shares during the period. Raymond James Financial Inc. acquired a new position in shares of PJT Partners in the fourth quarter valued at approximately $89,192,000. Finally, Congress Asset Management Co. increased its stake in shares of PJT Partners by 19.7% during the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider’s stock worth $66,951,000 after purchasing an additional 79,894 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel now owns 2,288 shares in the company, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, the director now owns 8,847 shares of the company’s stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,722,082 over the last quarter. 11.75% of the stock is owned by corporate insiders.

PJT Partners Stock Up 1.9%

Shares of NYSE:PJT opened at $153.75 on Tuesday. PJT Partners Inc. has a 12-month low of $100.81 and a 12-month high of $190.28. The company’s 50 day moving average price is $143.75 and its two-hundred day moving average price is $151.81. The firm has a market cap of $3.76 billion, a PE ratio of 31.38 and a beta of 0.74.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s payout ratio is currently 17.64%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on PJT Partners from $152.00 to $161.00 and gave the company a “market perform” rating in a research note on Monday, May 12th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $154.50.

PJT Partners Company 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.