Private Advisor Group LLC Decreases Stock Position in PJT Partners Inc. (NYSE:PJT)

Private Advisor Group LLC cut its stake in shares of PJT Partners Inc. (NYSE:PJT) by 8.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,026 shares of the financial services provider’s stock after selling 179 shares during the quarter. Private Advisor Group LLC’s holdings in PJT Partners were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its position in PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock valued at $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Norges Bank purchased a new position in shares of PJT Partners in the fourth quarter valued at about $20,269,000. Tidal Investments LLC bought a new position in shares of PJT Partners during the fourth quarter valued at about $20,059,000. Massachusetts Financial Services Co. MA bought a new position in shares of PJT Partners during the fourth quarter valued at about $17,569,000. Finally, GAMMA Investing LLC boosted its holdings in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider’s stock worth $11,312,000 after purchasing an additional 81,593 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PJT has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $161.00 to $199.00 and gave the company a “market perform” rating in a report on Monday, July 14th. Wolfe Research reissued an “underperform” rating on shares of PJT Partners in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $174.67.

PJT Partners Stock Up 0.3%

PJT opened at $179.09 on Friday. PJT Partners Inc. has a 52 week low of $116.06 and a 52 week high of $190.27. The stock has a market cap of $4.38 billion, a PE ratio of 30.77 and a beta of 0.77. The business has a 50 day moving average of $165.43 and a 200-day moving average of $155.01.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.18. PJT Partners had a return on equity of 25.47% and a net margin of 10.45%. The business had revenue of $731.09 billion during the quarter, compared to the consensus estimate of $343.11 million. During the same quarter in the prior year, the company earned $1.19 earnings per share. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities 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 will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. PJT Partners’s dividend payout ratio (DPR) is presently 17.18%.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the firm’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the transaction, the director directly owned 8,847 shares of the company’s stock, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,288 shares of company stock valued at $3,420,783 over the last quarter. Company insiders own 11.75% of the company’s stock.

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.