Allspring Global Investments Holdings LLC Sells 125 Shares of PJT Partners Inc. (NYSE:PJT)

Allspring Global Investments Holdings LLC trimmed its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 5.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,206 shares of the financial services provider’s stock after selling 125 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PJT Partners were worth $225,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new stake in PJT Partners in the fourth quarter valued at $1,397,000. Dark Forest Capital Management LP increased its holdings in PJT Partners by 90.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 24,433 shares of the financial services provider’s stock valued at $1,941,000 after purchasing an additional 11,589 shares in the last quarter. Schroder Investment Management Group boosted its stake in PJT Partners by 22.1% in the third 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. Chartwell Investment Partners LLC bought a new stake in shares of PJT Partners during the third quarter worth $8,676,000. Finally, Deutsche Bank AG raised its holdings in shares of PJT Partners by 13.6% in the third quarter. Deutsche Bank AG now owns 12,723 shares of the financial services provider’s stock valued at $1,011,000 after buying an additional 1,521 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the sale, the insider now owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction 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 sale, the insider now owns 73,421 shares in the company, valued at $7,678,368.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the transaction, the chief financial officer now directly owns 48,821 shares in the company, valued at approximately $5,151,103.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,926 shares of company stock worth $2,875,672. Company insiders own 10.67% of the company’s stock.

Wall Street Analyst Weigh In

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

PJT Partners Stock Down 1.3 %

NYSE:PJT opened at $94.09 on Friday. PJT Partners Inc. has a 12-month low of $59.61 and a 12-month high of $107.35. The stock’s fifty day simple moving average is $97.24 and its 200-day simple moving average is $93.25. The firm has a market capitalization of $2.25 billion, a P/E ratio of 30.55 and a beta of 0.68.

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

PJT Partners Announces Dividend

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

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.