PJT Partners Inc. (NYSE:PJT) Shares Sold by Arizona State Retirement System

Arizona State Retirement System reduced its stake in shares of PJT Partners Inc. (NYSE:PJT) by 4.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,426 shares of the financial services provider’s stock after selling 282 shares during the quarter. Arizona State Retirement System’s holdings in PJT Partners were worth $655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Amalgamated Bank grew its stake in PJT Partners by 3.4% in the fourth quarter. Amalgamated Bank now owns 3,949 shares of the financial services provider’s stock worth $291,000 after purchasing an additional 131 shares in the last quarter. Walleye Trading LLC raised its position in shares of PJT Partners by 1.2% during the 3rd quarter. Walleye Trading LLC now owns 11,271 shares of the financial services provider’s stock valued at $895,000 after acquiring an additional 136 shares in the last quarter. Prudential Financial Inc. raised its position in shares of PJT Partners by 4.1% during the 2nd quarter. Prudential Financial Inc. now owns 3,853 shares of the financial services provider’s stock valued at $274,000 after acquiring an additional 150 shares in the last quarter. Ameritas Investment Partners Inc. lifted its stake in PJT Partners by 9.1% during the second quarter. Ameritas Investment Partners Inc. now owns 2,010 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 167 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in PJT Partners by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 9,230 shares of the financial services provider’s stock worth $643,000 after purchasing an additional 194 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now owns 1,541 shares of the company’s stock, valued at $143,636.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Ji-Yeun Lee sold 10,000 shares of the 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 completion of the transaction, the insider now directly owns 73,421 shares in the company, valued at $7,678,368.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the business’s 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,926 shares of company stock valued at $2,875,672. Company insiders own 10.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PJT shares. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. UBS Group reaffirmed a “sell” rating and set a $75.00 price objective (down previously from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. Wolfe Research reissued an “underperform” rating and issued a $89.00 target price on shares of PJT Partners in a report on Wednesday, January 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $99.00 price target (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $93.25.

PJT Partners Stock Down 1.1 %

PJT Partners stock opened at $91.21 on Friday. PJT Partners Inc. has a 52-week low of $59.61 and a 52-week high of $107.35. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 29.63 and a beta of 0.68. The firm has a 50-day moving average price of $98.00 and a two-hundred day moving average price of $92.47.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The company had revenue of $328.60 million for the quarter, compared to analysts’ expectations of $304.26 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. Research analysts expect that PJT Partners Inc. will post 3.85 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.25 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.10%. PJT Partners’s payout ratio is 32.47%.

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.