Schwab Charles Investment Management Inc. increased its holdings in PJT Partners Inc (NYSE:PJT) by 11.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 76,632 shares of the financial services provider’s stock after buying an additional 7,743 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in PJT Partners were worth $2,936,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. First Trust Advisors LP increased its holdings in PJT Partners by 0.8% in the 2nd quarter. First Trust Advisors LP now owns 13,595 shares of the financial services provider’s stock worth $547,000 after buying an additional 111 shares in the last quarter. Legal & General Group Plc grew its stake in shares of PJT Partners by 4.0% during the 2nd quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 169 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of PJT Partners by 2.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,301 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 322 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of PJT Partners by 1.9% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 48,556 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 926 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of PJT Partners by 13.3% during the 2nd quarter. Voya Investment Management LLC now owns 8,731 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 1,026 shares during the period. Institutional investors own 58.20% of the company’s stock.
PJT has been the subject of a number of recent research reports. Zacks Investment Research downgraded PJT Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. JMP Securities initiated coverage on PJT Partners in a research note on Monday, September 18th. They set an “outperform” rating and a $45.00 price target for the company. Buckingham Research initiated coverage on PJT Partners in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $51.00 price target for the company. Finally, Sandler O’Neill set a $55.00 price target on PJT Partners and gave the company a “buy” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.60.
PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 31st. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.06). PJT Partners had a net margin of 2.41% and a negative return on equity of 61.67%. equities analysts forecast that PJT Partners Inc will post 1.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, December 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. PJT Partners’s dividend payout ratio (DPR) is presently 32.79%.
PJT Partners declared that its Board of Directors has initiated a share buyback plan on Tuesday, October 31st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
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About PJT Partners
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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