PJT Partners Inc. (NYSE:PJT) Shares Purchased by Congress Asset Management Co.

Congress Asset Management Co. grew its position in shares of PJT Partners Inc. (NYSE:PJT) by 27.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,681 shares of the financial services provider’s stock after purchasing an additional 87,707 shares during the period. Congress Asset Management Co.’s holdings in PJT Partners were worth $64,021,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System grew its stake in PJT Partners by 2.9% in the 4th quarter. New York State Teachers Retirement System now owns 10,999 shares of the financial services provider’s stock worth $1,736,000 after acquiring an additional 311 shares during the period. Legato Capital Management LLC grew its position in shares of PJT Partners by 25.1% in the fourth quarter. Legato Capital Management LLC now owns 3,281 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 659 shares during the period. Alliance Wealth Advisors LLC UT acquired a new position in PJT Partners in the fourth quarter valued at $435,000. OLD National Bancorp IN lifted its position in PJT Partners by 25.6% during the fourth quarter. OLD National Bancorp IN now owns 2,390 shares of the financial services provider’s stock worth $377,000 after buying an additional 487 shares during the period. Finally, Perigon Wealth Management LLC acquired a new stake in PJT Partners in the 4th quarter worth about $219,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PJT shares. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. Citizens Jmp lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Finally, UBS Group upgraded 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 report on Friday, December 6th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

PJT Partners Stock Down 0.1 %

PJT Partners stock opened at $175.72 on Friday. The firm has a fifty day moving average of $162.36 and a 200-day moving average of $146.77. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $190.27. The firm has a market capitalization of $4.16 billion, a P/E ratio of 35.86 and a beta of 0.67.

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

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners’s dividend payout ratio (DPR) is presently 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.