Envestnet Asset Management Inc. Sells 13,273 Shares of PJT Partners Inc. (NYSE:PJT)

Envestnet Asset Management Inc. lowered its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 14.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 81,254 shares of the financial services provider’s stock after selling 13,273 shares during the period. Envestnet Asset Management Inc. owned about 0.35% of PJT Partners worth $11,203,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc bought a new stake in shares of PJT Partners during the first quarter valued at approximately $30,000. CIBC Private Wealth Group LLC raised its position in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 146 shares during the period. Opal Wealth Advisors LLC purchased a new position in PJT Partners in the 1st quarter valued at $39,000. PNC Financial Services Group Inc. raised its holdings in PJT Partners by 51.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock valued at $82,000 after buying an additional 176 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider’s stock worth $82,000 after buying an additional 149 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a research note on Monday, July 14th. Wolfe Research reissued an “underperform” rating on shares of PJT Partners in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $164.00.

PJT Partners Stock Down 0.6%

Shares of PJT opened at $182.93 on Friday. PJT Partners Inc. has a 12-month low of $116.06 and a 12-month high of $190.28. The stock’s fifty day simple moving average is $159.50 and its 200-day simple moving average is $153.36. The firm has a market capitalization of $4.47 billion, a PE ratio of 32.26 and a beta of 0.76.

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

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.55%. PJT Partners’s dividend payout ratio (DPR) is presently 17.64%.

Insiders Place Their Bets

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, the director owned 8,847 shares of the company’s stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel directly owned 2,288 shares of the company’s stock, valued at $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by company insiders.

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.