PJT Partners Inc. (NYSE:PJT) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in PJT Partners Inc. (NYSE:PJT) by 8.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 231,080 shares of the financial services provider’s stock after selling 21,041 shares during the period. Bank of New York Mellon Corp owned about 0.99% of PJT Partners worth $31,861,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in shares of PJT Partners by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider’s stock valued at $19,797,000 after acquiring an additional 3,645 shares in the last quarter. First Bank & Trust raised its stake in shares of PJT Partners by 1.6% during the first quarter. First Bank & Trust now owns 5,186 shares of the financial services provider’s stock worth $715,000 after buying an additional 80 shares during the last quarter. New York State Teachers Retirement System grew its holdings in PJT Partners by 11.4% during the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider’s stock valued at $1,689,000 after purchasing an additional 1,254 shares during the period. Illinois Municipal Retirement Fund grew its holdings in PJT Partners by 4.2% during the first quarter. Illinois Municipal Retirement Fund now owns 13,391 shares of the financial services provider’s stock valued at $1,846,000 after purchasing an additional 539 shares during the period. Finally, Independent Solutions Wealth Management LLC boosted its holdings in shares of PJT Partners by 1.8% in the first quarter. Independent Solutions Wealth Management LLC now owns 16,164 shares of the financial services provider’s stock valued at $2,229,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

PJT has been the topic of several analyst reports. Wolfe Research reaffirmed an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a research note on Monday. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and an average target price of $164.00.

Insider Activity

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the sale, the director owned 8,847 shares of the company’s stock, valued at $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $708,700.00. Following the completion of the transaction, the general counsel directly owned 2,288 shares in the company, valued at $324,301.12. The trade was a 68.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock worth $3,722,082. 11.75% of the stock is owned by corporate insiders.

PJT Partners Price Performance

Shares of NYSE PJT opened at $178.80 on Wednesday. The firm has a 50-day moving average of $157.14 and a 200 day moving average of $152.81. The stock has a market cap of $4.37 billion, a P/E ratio of 31.53 and a beta of 0.76. PJT Partners Inc. has a 1 year low of $115.74 and a 1 year high of $190.28.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. PJT Partners had a net margin of 10.47% and a return on equity of 23.81%. The firm had revenue of $324.50 million during the quarter, compared to analysts’ expectations of $361.26 million. During the same period in the prior year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, June 4th. PJT Partners’s dividend payout ratio (DPR) is presently 17.64%.

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.