PJT Partners Inc. (NYSE:PJT) Stake Lowered by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its stake in PJT Partners Inc. (NYSE:PJT) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,052 shares of the financial services provider’s stock after selling 1,541 shares during the period. Russell Investments Group Ltd.’s holdings in PJT Partners were worth $6,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PJT. Clearbridge Investments LLC lifted 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 during the last quarter. Eagle Asset Management Inc. boosted its stake in PJT Partners by 7.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock valued at $77,032,000 after purchasing an additional 69,485 shares during the period. FMR LLC grew its position in PJT Partners by 5.9% in the 3rd quarter. FMR LLC now owns 381,964 shares of the financial services provider’s stock worth $30,343,000 after purchasing an additional 21,392 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of 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 valued at $29,530,000 after purchasing an additional 67,197 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 2,352 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Price Performance

NYSE PJT opened at $99.34 on Thursday. The firm has a market capitalization of $2.38 billion, a PE ratio of 27.37 and a beta of 0.67. PJT Partners Inc. has a 12 month low of $61.03 and a 12 month high of $107.35. The company’s 50 day simple moving average is $96.27 and its 200 day simple moving average is $94.40.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.53. The company had revenue of $329.39 million for the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a return on equity of 17.44% and a net margin of 7.57%. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. Sell-side analysts anticipate that PJT Partners Inc. will post 4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 5th. PJT Partners’s payout ratio is 27.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PJT. JMP Securities reissued a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a report on Tuesday, April 9th. UBS Group reissued a “sell” rating and set a $75.00 price target (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $93.25.

Insider Activity

In related news, 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 sale, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was 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 directly owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Helen T. Meates sold 12,926 shares of PJT Partners stock in a transaction 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 completion of the transaction, the chief financial officer now owns 48,821 shares in the company, valued at $5,151,103.71. The disclosure for this sale can be found here. Insiders own 10.67% of the company’s stock.

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.