PJT Partners Inc. $PJT Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in shares of PJT Partners Inc. (NYSE:PJT) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 195,596 shares of the financial services provider’s stock after selling 12,668 shares during the period. Massachusetts Financial Services Co. MA owned about 0.80% of PJT Partners worth $32,704,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in PJT. Harbor Capital Advisors Inc. grew its holdings in shares of PJT Partners by 4.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 9,220 shares of the financial services provider’s stock worth $1,542,000 after buying an additional 387 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of PJT Partners during the fourth quarter worth about $86,000. Congress Asset Management Co. grew its holdings in shares of PJT Partners by 9.9% during the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock worth $97,632,000 after buying an additional 52,548 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of PJT Partners by 199.3% during the fourth quarter. SG Americas Securities LLC now owns 9,775 shares of the financial services provider’s stock worth $1,634,000 after buying an additional 6,509 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of PJT Partners by 7.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,076 shares of the financial services provider’s stock worth $377,000 after buying an additional 148 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PJT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. Zacks Research lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Keefe, Bruyette & Woods raised PJT Partners from a “market perform” rating to an “outperform” rating and lowered their price objective for the company from $180.00 to $166.00 in a report on Wednesday, April 8th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, April 1st. Finally, Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $170.50.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $162.73 on Thursday. The business’s 50 day simple moving average is $145.57 and its 200-day simple moving average is $163.58. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of 24.51 and a beta of 0.88. PJT Partners Inc. has a 12 month low of $124.97 and a 12 month high of $195.62.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, topping the consensus estimate of $2.41 by $0.14. The business had revenue of $535.16 million for the quarter, compared to analyst estimates of $533.32 million. PJT Partners had a return on equity of 31.69% and a net margin of 10.51%.The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 EPS. On average, equities analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s payout ratio is 15.06%.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.