The Manufacturers Life Insurance Company Sells 330 Shares of PJT Partners Inc. (NYSE:PJT)

The Manufacturers Life Insurance Company cut its stake in shares of PJT Partners Inc. (NYSE:PJT) by 2.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,846 shares of the financial services provider’s stock after selling 330 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of PJT Partners worth $1,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PJT. Los Angeles Capital Management LLC bought a new position in PJT Partners in the third quarter worth approximately $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in PJT Partners by 24.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock worth $11,427,000 after purchasing an additional 20,845 shares during the period. Citigroup Inc. lifted its position in PJT Partners by 101.1% during the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock valued at $4,014,000 after purchasing an additional 15,135 shares in the last quarter. Atria Investments Inc grew its holdings in PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock valued at $342,000 after purchasing an additional 142 shares during the period. Finally, AdvisorShares Investments LLC purchased a new stake in PJT Partners in the second quarter worth about $535,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel David Adam Travin sold 1,541 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock worth $762,980. Company insiders own 11.71% of the company’s stock.

PJT Partners Stock Down 3.3 %

PJT opened at $158.71 on Tuesday. The business has a fifty day moving average of $150.78 and a 200 day moving average of $129.15. The stock has a market cap of $3.76 billion, a P/E ratio of 40.28 and a beta of 0.65. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Equities analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. PJT Partners’s dividend payout ratio is currently 25.38%.

Analysts Set New Price Targets

PJT has been the subject of a number of recent research reports. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $175.00 in a research note on Friday. JMP Securities upped their price target on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $134.80.

PJT Partners 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.