Allspring Global Investments Holdings LLC Has $290,000 Stock Position in PJT Partners Inc. (NYSE:PJT)

Allspring Global Investments Holdings LLC raised its holdings in PJT Partners Inc. (NYSE:PJT) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,162 shares of the financial services provider’s stock after acquiring an additional 132 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PJT Partners were worth $290,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in shares of PJT Partners by 133.0% during the first quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock worth $27,000 after buying an additional 246 shares during the period. Acadian Asset Management LLC increased its position in shares of PJT Partners by 19.2% during the first quarter. Acadian Asset Management LLC now owns 9,011 shares of the financial services provider’s stock worth $568,000 after buying an additional 1,452 shares during the period. MetLife Investment Management LLC increased its position in shares of PJT Partners by 55.3% during the first quarter. MetLife Investment Management LLC now owns 12,952 shares of the financial services provider’s stock worth $818,000 after buying an additional 4,613 shares during the period. Sei Investments Co. increased its position in shares of PJT Partners by 18.9% during the first quarter. Sei Investments Co. now owns 58,246 shares of the financial services provider’s stock worth $3,676,000 after buying an additional 9,246 shares during the period. Finally, Prudential Financial Inc. increased its position in shares of PJT Partners by 6.7% during the first quarter. Prudential Financial Inc. now owns 3,703 shares of the financial services provider’s stock worth $234,000 after buying an additional 231 shares during the period. 73.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $79.61, for a total transaction of $796,100.00. Following the completion of the transaction, the insider now directly owns 93,421 shares in the company, valued at $7,437,245.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.67% of the company’s stock.

Wall Street Analysts Forecast Growth

PJT has been the subject of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $94.00 price target on shares of PJT Partners in a report on Tuesday, October 3rd. UBS Group initiated coverage on shares of PJT Partners in a report on Tuesday, October 3rd. They issued a “neutral” rating and a $84.00 price target for the company. Wolfe Research cut shares of PJT Partners from an “outperform” rating to a “peer perform” rating in a report on Tuesday, July 25th. Finally, StockNews.com cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.67.

PJT Partners Price Performance

Shares of NYSE PJT opened at $83.02 on Friday. The stock has a market capitalization of $2.01 billion, a P/E ratio of 26.27 and a beta of 0.73. The company has a 50-day moving average price of $78.06 and a 200-day moving average price of $74.24. PJT Partners Inc. has a 1 year low of $59.61 and a 1 year high of $86.92.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.35. The firm had revenue of $278.40 million during the quarter, compared to analysts’ expectations of $226.97 million. PJT Partners had a net margin of 7.37% and a return on equity of 15.72%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. As a group, equities research analysts anticipate that PJT Partners Inc. will post 3 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 5th. PJT Partners’s dividend payout ratio is currently 31.65%.

PJT Partners Company Profile

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.