Renaissance Technologies LLC Takes Position in PJT Partners Inc. $PJT

Renaissance Technologies LLC purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 47,700 shares of the financial services provider’s stock, valued at approximately $6,665,000. Renaissance Technologies LLC owned about 0.18% of PJT Partners at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oregon Public Employees Retirement Fund grew its position in PJT Partners by 1.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider’s stock valued at $930,000 after buying an additional 64 shares during the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of PJT Partners by 0.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider’s stock worth $2,397,000 after acquiring an additional 66 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of PJT Partners by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider’s stock worth $595,000 after acquiring an additional 67 shares during the period. New Age Alpha Advisors LLC boosted its holdings in shares of PJT Partners by 6.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 78 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of PJT Partners by 1.4% during the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider’s stock worth $946,000 after acquiring an additional 78 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Up 0.4%

Shares of NYSE PJT opened at $171.23 on Wednesday. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62. The firm has a 50-day moving average price of $160.18 and a 200 day moving average price of $156.15. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 23.42 and a beta of 0.84.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The firm had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Equities research analysts expect that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd. PJT Partners’s dividend payout ratio (DPR) is presently 13.68%.

Analyst Ratings Changes

Several research analysts recently issued reports on PJT shares. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. UBS Group reiterated a “neutral” rating and set a $176.00 target price on shares of PJT Partners in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. BMO Capital Markets raised their price target on PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a report on Monday. Finally, Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $177.50.

Insider Activity at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,283 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the sale, the director owned 500 shares of the company’s stock, valued at $83,835. The trade was a 71.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.98% of the stock is owned by company insiders.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.