abrdn plc Has $17.77 Million Stock Holdings in PJT Partners Inc. (NYSE:PJT)

abrdn plc reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 55.5% in the 4th quarter, Holdings Channel reports. The firm owned 174,424 shares of the financial services provider’s stock after selling 217,864 shares during the period. abrdn plc’s holdings in PJT Partners were worth $17,769,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC boosted its stake in PJT Partners by 6.7% in the third quarter. Clearbridge Investments LLC now owns 1,104,971 shares of the financial services provider’s stock valued at $87,779,000 after buying an additional 68,951 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of PJT Partners by 7.7% during the third quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock worth $77,032,000 after buying an additional 69,485 shares in the last quarter. FMR LLC boosted its holdings in shares of PJT Partners by 5.9% during the 3rd quarter. FMR LLC now owns 381,964 shares of the financial services provider’s stock valued at $30,343,000 after acquiring an additional 21,392 shares in the last quarter. Schroder Investment Management Group increased its holdings in PJT Partners by 22.1% in the 3rd quarter. Schroder Investment Management Group now owns 371,730 shares of the financial services provider’s stock worth $29,530,000 after purchasing an additional 67,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PJT Partners by 1.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 207,643 shares of the financial services provider’s stock valued at $16,495,000 after purchasing an additional 2,352 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PJT has been the subject of a number of research reports. Wolfe Research reiterated an “underperform” rating and issued a $89.00 price objective on shares of PJT Partners in a report on Wednesday, January 3rd. The Goldman Sachs Group restated a “neutral” rating and issued a $99.00 price target (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. JMP Securities reiterated a “market outperform” rating and set a $110.00 price target on shares of PJT Partners in a report on Tuesday, April 9th. Finally, UBS Group restated 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. 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $93.25.

PJT Partners Stock Performance

NYSE:PJT opened at $95.94 on Thursday. PJT Partners Inc. has a fifty-two week low of $59.61 and a fifty-two week high of $107.35. The company has a 50 day simple moving average of $97.59 and a two-hundred day simple moving average of $93.03. The company has a market capitalization of $2.29 billion, a PE ratio of 31.15 and a beta of 0.68.

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

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, March 5th. PJT Partners’s dividend payout ratio is 32.47%.

Insider Activity at PJT Partners

In other PJT Partners 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 completion of the sale, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the transaction, the chief financial officer now owns 48,821 shares in the company, valued at approximately $5,151,103.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was 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 owns 1,541 shares of the company’s stock, valued at $143,636.61. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock worth $2,875,672 in the last 90 days. Corporate insiders own 10.67% of the company’s stock.

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.