Teacher Retirement System of Texas Grows Stock Position in PJT Partners Inc. (NYSE:PJT)

Teacher Retirement System of Texas increased its holdings in PJT Partners Inc. (NYSE:PJT) by 274.0% in the 4th quarter, HoldingsChannel reports. The fund owned 29,602 shares of the financial services provider’s stock after purchasing an additional 21,688 shares during the quarter. Teacher Retirement System of Texas’ holdings in PJT Partners were worth $4,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in shares of PJT Partners by 91.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock valued at $9,636,000 after purchasing an additional 34,514 shares during the last quarter. Geode Capital Management LLC increased 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 worth $82,556,000 after purchasing an additional 45,327 shares during the last quarter. Citigroup Inc. raised its holdings in PJT Partners by 101.1% in the 3rd quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock valued at $4,014,000 after buying an additional 15,135 shares during the period. State Street Corp lifted its position in PJT Partners by 5.7% in the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in PJT Partners by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider’s stock worth $22,083,000 after buying an additional 5,644 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT stock opened at $144.08 on Monday. PJT Partners Inc. has a fifty-two week low of $88.51 and a fifty-two week high of $190.28. The company has a 50 day moving average price of $159.59 and a 200 day moving average price of $152.25. The stock has a market capitalization of $3.36 billion, a P/E ratio of 29.40 and a beta of 0.68.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $384.64 million. During the same quarter last year, the company posted $0.96 EPS. The firm’s revenue was up 45.3% compared to the same quarter last year. On average, research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 0.69%. PJT Partners’s dividend payout ratio (DPR) is 20.41%.

Analysts Set New Price Targets

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

About PJT Partners

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.