Vanguard Group Inc. Lowers Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Vanguard Group Inc. reduced its position in PJT Partners Inc. (NYSE:PJTFree Report) by 1.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,112,254 shares of the financial services provider’s stock after selling 40,028 shares during the quarter. Vanguard Group Inc. owned about 8.71% of PJT Partners worth $167,797,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PJT. Fortis Capital Advisors LLC bought a new stake in PJT Partners during the first quarter valued at $29,000. PNC Financial Services Group Inc. raised its holdings in shares of PJT Partners by 133.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 246 shares in the last quarter. Belpointe Asset Management LLC boosted its position in shares of PJT Partners by 423.3% during the 1st quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 381 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of PJT Partners by 61.4% during the 3rd quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 254 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of PJT Partners during the second quarter worth about $61,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Up 0.2 %

PJT Partners stock opened at $94.26 on Monday. PJT Partners Inc. has a twelve month low of $59.61 and a twelve month high of $107.35. The firm has a fifty day simple moving average of $98.77 and a two-hundred day simple moving average of $91.12. The company has a market capitalization of $2.25 billion, a PE ratio of 30.60 and a beta of 0.69.

PJT Partners (NYSE:PJTGet Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The firm had revenue of $328.60 million during the quarter, compared to the consensus estimate of $304.26 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s revenue was up 17.4% on a year-over-year basis. As a group, equities analysts expect that PJT Partners Inc. will post 3.85 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, March 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Tuesday, March 5th. PJT Partners’s dividend payout ratio (DPR) is presently 32.47%.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total transaction of $466,050.00. Following the completion of the sale, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the sale, the general counsel now directly owns 1,541 shares in the company, valued at approximately $143,636.61. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the transaction, the insider now directly owns 73,421 shares in the company, valued at $7,678,368.18. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock valued at $2,875,672 in the last quarter. Insiders own 10.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Seaport Res Ptn lowered shares of PJT Partners from a “buy” rating to a “neutral” rating in a report on Tuesday, December 5th. Wolfe Research restated an “underperform” rating and set a $89.00 price target on shares of PJT Partners in a research report on Wednesday, January 3rd. UBS Group reiterated a “sell” rating and issued a $75.00 price objective (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. JMP Securities increased their price objective on PJT Partners from $105.00 to $110.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $99.00 target price (down previously from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $93.25.

Read Our Latest Stock Analysis on PJT Partners

About PJT Partners

(Free Report)

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.

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Institutional Ownership by Quarter for PJT Partners (NYSE:PJT)

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