Bank of America upgraded shares of PJT Partners (NYSE:PJT) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, Marketbeat reports. Bank of America currently has $55.00 target price on the financial services provider’s stock, up from their previous target price of $53.00. The analysts noted that the move was a valuation call.
Several other research firms also recently commented on PJT. Goldman Sachs Group initiated coverage on shares of PJT Partners in a research note on Tuesday, November 6th. They issued a buy rating and a $60.00 price target on the stock. Sandler O’Neill set a $62.00 price target on shares of PJT Partners and gave the stock a hold rating in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of PJT Partners from a hold rating to a sell rating in a research note on Friday, October 19th. Finally, TheStreet raised shares of PJT Partners from a d rating to a c rating in a research note on Monday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. PJT Partners has an average rating of Hold and an average price target of $57.80.
PJT Partners stock opened at $47.26 on Monday. The stock has a market capitalization of $1.05 billion, a PE ratio of 30.69 and a beta of 0.79. PJT Partners has a 12-month low of $40.78 and a 12-month high of $61.18.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, December 5th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend is Tuesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is 12.99%.
A number of hedge funds and other institutional investors have recently bought and sold shares of PJT. SG Americas Securities LLC purchased a new position in PJT Partners during the 2nd quarter valued at about $110,000. Quantbot Technologies LP purchased a new position in PJT Partners during the 3rd quarter valued at about $117,000. LPL Financial LLC purchased a new position in PJT Partners during the 1st quarter valued at about $204,000. Capital Fund Management S.A. purchased a new position in PJT Partners during the 3rd quarter valued at about $325,000. Finally, State Board of Administration of Florida Retirement System increased its position in PJT Partners by 65.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 7,333 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 2,910 shares during the period. 61.14% of the stock is currently owned by institutional investors and hedge funds.
PJT Partners Company Profile
PJT Partners Inc provides various strategic advisory, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
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