Envestnet Asset Management Inc. Sells 1,364 Shares of PJT Partners Inc. $PJT

by · The Markets Daily

Envestnet Asset Management Inc. lessened its stake in shares of PJT Partners Inc. (NYSE:PJT – Free Report) by 1.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 79,890 shares of the financial services provider’s stock after selling 1,364 shares during the period. Envestnet Asset Management Inc.’s holdings in PJT Partners were worth $13,183,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Crestwood Advisors Group LLC lifted its stake in shares of PJT Partners by 0.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 14,314 shares of the financial services provider’s stock valued at $1,974,000 after acquiring an additional 83 shares during the last quarter. Xponance Inc. increased its holdings in PJT Partners by 5.4% in the 1st quarter. Xponance Inc. now owns 1,749 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 90 shares in the last quarter. OLD National Bancorp IN raised its position in PJT Partners by 6.0% in the second quarter. OLD National Bancorp IN now owns 1,653 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 93 shares during the last quarter. HighTower Advisors LLC raised its position in PJT Partners by 1.6% in the first quarter. HighTower Advisors LLC now owns 6,166 shares of the financial services provider’s stock valued at $850,000 after purchasing an additional 96 shares during the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in shares of PJT Partners by 1.4% during the second quarter. KLP Kapitalforvaltning AS now owns 7,500 shares of the financial services provider’s stock valued at $1,238,000 after purchasing an additional 100 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on PJT shares. BMO Capital Markets began coverage on PJT Partners in a research note on Friday, October 3rd. They issued an “outperform” rating and a $205.00 price objective for the company. Evercore ISI set a $180.00 target price on shares of PJT Partners in a report on Monday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $185.50.

Read Our Latest Stock Report on PJT Partners

PJT Partners Price Performance

Shares of PJT stock opened at $166.83 on Friday. The business’s 50 day simple moving average is $177.22 and its 200 day simple moving average is $168.09. PJT Partners Inc. has a one year low of $119.76 and a one year high of $190.27. The stock has a market capitalization of $4.06 billion, a PE ratio of 25.67 and a beta of 0.79.

PJT Partners (NYSE:PJT – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.61. PJT Partners had a net margin of 10.75% and a return on equity of 30.29%. The firm had revenue of $447.09 million during the quarter, compared to analyst estimates of $386.76 million. As a group, research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, December 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s payout ratio is currently 15.38%.

About PJT Partners

(Free Report)

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.

Further Reading

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