Arrowstreet Capital Limited Partnership Boosts Stake in PJT Partners Inc. (NYSE:PJT)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 658.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 181,406 shares of the financial services provider’s stock after purchasing an additional 157,483 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.77% of PJT Partners worth $28,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PJT Partners by 5.3% during the fourth 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 period. State Street Corp boosted its position in shares of PJT Partners by 5.7% during the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after purchasing an additional 54,071 shares during the period. Geode Capital Management LLC increased its holdings in PJT Partners by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after purchasing an additional 45,327 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in PJT Partners in the 4th quarter valued at approximately $89,192,000. Finally, FMR LLC raised its position in PJT Partners by 10.9% in the third quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock valued at $55,639,000 after purchasing an additional 41,007 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PJT shares. JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Finally, Citizens Jmp lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

PJT Partners Price Performance

Shares of NYSE PJT opened at $141.79 on Thursday. The stock’s 50-day moving average is $156.81 and its two-hundred day moving average is $153.29. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 28.94 and a beta of 0.68. PJT Partners Inc. has a 1-year low of $90.95 and a 1-year high of $190.28.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $384.64 million. During the same period in the prior year, the firm earned $0.96 earnings per share. The business’s quarterly revenue was up 45.3% compared to the same quarter last year. Equities research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. PJT Partners’s dividend payout ratio (DPR) is currently 20.41%.

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.