New York State Common Retirement Fund Cuts Stock Holdings in PJT Partners Inc. (NYSE:PJT)

New York State Common Retirement Fund cut its position in PJT Partners Inc. (NYSE:PJT) by 14.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,119 shares of the financial services provider’s stock after selling 2,759 shares during the period. New York State Common Retirement Fund’s holdings in PJT Partners were worth $1,642,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Raymond James & Associates lifted its stake in shares of PJT Partners by 2.7% in the third quarter. Raymond James & Associates now owns 119,487 shares of the financial services provider’s stock worth $9,492,000 after buying an additional 3,101 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of PJT Partners by 207.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,489 shares of the financial services provider’s stock valued at $913,000 after purchasing an additional 7,749 shares during the last quarter. Principal Financial Group Inc. lifted its position in PJT Partners by 36.6% during the third quarter. Principal Financial Group Inc. now owns 12,550 shares of the financial services provider’s stock worth $997,000 after buying an additional 3,363 shares in the last quarter. Versor Investments LP acquired a new position in PJT Partners during the third quarter worth $247,000. Finally, Account Management LLC purchased a new stake in PJT Partners in the 3rd quarter valued at $202,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PJT has been the subject of a number of analyst reports. 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 reaffirmed a “sell” rating and set a $75.00 price target (down previously from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $93.25.

PJT Partners Price Performance

Shares of PJT opened at $100.27 on Friday. The firm has a 50-day simple moving average of $96.17 and a two-hundred day simple moving average of $94.44. PJT Partners Inc. has a 1-year low of $61.03 and a 1-year high of $107.35. The stock has a market cap of $2.40 billion, a PE ratio of 27.62 and a beta of 0.67.

PJT Partners (NYSE:PJT) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. PJT Partners had a return on equity of 17.44% and a net margin of 7.57%. The company had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 64.7% compared to the same quarter last year. As a group, sell-side analysts expect 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Insider Activity

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the firm’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 completion of the transaction, the insider now owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now 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 Securities & Exchange Commission, which is available through the SEC website. Also, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction dated 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 of the company’s stock, 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.