Alberta Investment Management Corp Reduces Stake in PJT Partners Inc. (NYSE:PJT)

Alberta Investment Management Corp lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 40.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,045 shares of the financial services provider’s stock after selling 7,463 shares during the period. Alberta Investment Management Corp’s holdings in PJT Partners were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PJT. Los Angeles Capital Management LLC acquired a new stake in PJT Partners during the third quarter worth about $453,000. JPMorgan Chase & Co. increased its holdings in shares of PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock worth $9,636,000 after buying an additional 34,514 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PJT Partners by 7.9% during 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 buying an additional 45,327 shares during the period. Citigroup Inc. lifted its holdings in PJT Partners by 101.1% in the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock valued at $4,014,000 after acquiring an additional 15,135 shares during the last quarter. Finally, Atria Investments Inc grew its position in PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 142 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Trading Down 1.9 %

PJT stock opened at $162.87 on Friday. The business’s fifty day moving average price is $163.34 and its 200 day moving average price is $148.25. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $190.27. The company has a market capitalization of $3.86 billion, a PE ratio of 33.24 and a beta of 0.67.

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, beating the consensus estimate of $1.19 by $0.71. The company 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%. PJT Partners’s revenue was up 45.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. Research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners’s payout ratio is currently 20.41%.

Analysts Set New Price Targets

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

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.