US Bancorp DE Trims Stake in PJT Partners Inc. (NYSE:PJT)

US Bancorp DE lowered its position in PJT Partners Inc. (NYSE:PJT) by 55.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,449 shares of the financial services provider’s stock after selling 1,815 shares during the quarter. US Bancorp DE’s holdings in PJT Partners were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System grew its holdings in PJT Partners by 11.4% during the 1st quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider’s stock worth $1,689,000 after acquiring an additional 1,254 shares in the last quarter. Millennium Management LLC purchased a new position in PJT Partners during the 4th quarter worth approximately $555,000. Principal Financial Group Inc. increased its holdings 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 purchasing an additional 3,645 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of PJT Partners by 18,294.4% during the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider’s stock valued at $11,312,000 after purchasing an additional 81,593 shares in the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new stake in PJT Partners in the 1st quarter valued at $3,373,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at PJT Partners

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares of the company’s stock, valued at approximately $88,445. The trade was a 75.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,792 shares of company stock valued at $3,686,825 in the last three months. Corporate insiders own 11.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wolfe Research reaffirmed an “underperform” rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target 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, July 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and a consensus target price of $174.67.

PJT Partners Trading Down 2.2%

PJT Partners stock opened at $179.53 on Friday. The stock has a market cap of $4.36 billion, a PE ratio of 30.85 and a beta of 0.77. The stock has a 50-day moving average price of $172.08 and a 200 day moving average price of $156.46. PJT Partners Inc. has a 52 week low of $116.07 and a 52 week high of $190.27.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.36 by $0.18. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%. The company had revenue of $731.09 billion during the quarter, compared to analysts’ expectations of $343.11 million. During the same quarter in the previous year, the business earned $1.19 EPS. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. PJT Partners’s dividend payout ratio is presently 17.18%.

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.