Victory Capital Management Inc. Sells 8,461 Shares of PJT Partners Inc. (NYSE:PJT)

Victory Capital Management Inc. lowered its stake in shares of PJT Partners Inc. (NYSE:PJT) by 32.4% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,662 shares of the financial services provider’s stock after selling 8,461 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of PJT Partners worth $2,435,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of PJT Partners by 53.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 2,012 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in PJT Partners in the 4th quarter valued at $726,000. LPL Financial LLC lifted its stake in PJT Partners by 11.6% during the 4th quarter. LPL Financial LLC now owns 11,601 shares of the financial services provider’s stock valued at $1,831,000 after acquiring an additional 1,210 shares in the last quarter. Vanguard Group Inc. lifted its stake in PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock valued at $396,987,000 after acquiring an additional 127,060 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in PJT Partners by 4.5% during the 4th quarter. Prudential Financial Inc. now owns 34,099 shares of the financial services provider’s stock worth $5,381,000 after acquiring an additional 1,458 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Wolfe Research reiterated an “underperform” rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, PJT Partners presently has a consensus rating of “Hold” and a consensus price target of $164.00.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction 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 completion of the transaction, the general counsel directly owned 2,288 shares of the company’s stock, valued at approximately $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of the business’s stock in a transaction on 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 completion of the sale, the director owned 8,847 shares in the company, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock worth $3,722,082 in the last ninety days. 11.75% of the stock is currently owned by insiders.

PJT Partners Price Performance

NYSE PJT opened at $182.50 on Tuesday. The business’s fifty day moving average is $163.69 and its 200-day moving average is $154.51. The stock has a market capitalization of $4.46 billion, a price-to-earnings ratio of 32.19 and a beta of 0.76. PJT Partners Inc. has a one year low of $116.06 and a one year high of $190.27.

PJT Partners (NYSE:PJT) last posted 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. The business had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a net margin of 10.47% and a return on equity of 23.81%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.98 earnings per share. Research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

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.