TD Asset Management Inc Sells 3,660 Shares of PJT Partners Inc. $PJT

TD Asset Management Inc decreased its holdings in PJT Partners Inc. (NYSE:PJT) by 18.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,286 shares of the financial services provider’s stock after selling 3,660 shares during the period. TD Asset Management Inc owned 0.07% of PJT Partners worth $2,895,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. EFG Asset Management North America Corp. purchased a new stake in shares of PJT Partners in the third quarter worth about $1,256,000. Mutual of America Capital Management LLC lifted its stake in PJT Partners by 19.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider’s stock worth $13,920,000 after purchasing an additional 12,537 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in PJT Partners by 17.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider’s stock worth $37,015,000 after purchasing an additional 31,594 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in PJT Partners by 105.4% in the 2nd quarter. Cresset Asset Management LLC now owns 21,536 shares of the financial services provider’s stock valued at $3,554,000 after purchasing an additional 11,053 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of PJT Partners by 5.4% during the 3rd quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider’s stock valued at $94,442,000 after purchasing an additional 27,232 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of NYSE PJT opened at $148.51 on Thursday. The stock has a market capitalization of $3.61 billion, a P/E ratio of 22.37 and a beta of 0.85. PJT Partners Inc. has a one year low of $119.76 and a one year high of $195.62. The firm’s 50 day simple moving average is $167.77 and its two-hundred day simple moving average is $172.09.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. The company had revenue of $535.16 million during the quarter, compared to analysts’ expectations of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.90 EPS. As a group, equities analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 4th. PJT Partners’s dividend payout ratio (DPR) is 15.06%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Wolfe Research reiterated an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a research report on Wednesday, January 7th. The Goldman Sachs Group decreased their target price on PJT Partners from $197.00 to $174.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods lifted their price target on PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research report on Thursday, January 8th. Zacks Research cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, UBS Group began coverage on shares of PJT Partners in a research note on Thursday, December 11th. They issued a “neutral” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $179.50.

About PJT Partners

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.