Nuveen Asset Management LLC Sells 1,387 Shares of PJT Partners Inc. (NYSE:PJT)

Nuveen Asset Management LLC lessened its position in shares of PJT Partners Inc. (NYSE:PJT) by 1.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 91,795 shares of the financial services provider’s stock after selling 1,387 shares during the period. Nuveen Asset Management LLC owned 0.39% of PJT Partners worth $14,486,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Securities Inc. increased its stake in PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 146 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 176 shares in the last quarter. KBC Group NV increased its stake in PJT Partners by 25.4% in the fourth quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 204 shares in the last quarter. Finally, Level Four Advisory Services LLC bought a new stake in PJT Partners in the fourth quarter valued at $202,000. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This represents a 68.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 11.75% of the stock is currently owned by insiders.

PJT Partners Price Performance

NYSE:PJT opened at $146.38 on Monday. The firm has a 50-day moving average of $139.08 and a 200-day moving average of $152.80. The company has a market cap of $3.58 billion, a PE ratio of 29.87 and a beta of 0.76. PJT Partners Inc. has a one year low of $99.77 and a one year high of $190.28.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. During the same period in the previous year, the firm posted $0.98 earnings per share. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s payout ratio is 17.64%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $152.00 to $161.00 and gave the company a “market perform” rating in a research note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $154.50.

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.