PNC Financial Services Group Inc. Has $123,000 Position in PJT Partners Inc. $PJT

PNC Financial Services Group Inc. grew its position in PJT Partners Inc. (NYSE:PJT) by 72.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 892 shares of the financial services provider’s stock after purchasing an additional 375 shares during the period. PNC Financial Services Group Inc.’s holdings in PJT Partners were worth $123,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PJT. Alberta Investment Management Corp lifted its position in PJT Partners by 10.2% during the 1st quarter. Alberta Investment Management Corp now owns 12,169 shares of the financial services provider’s stock worth $1,678,000 after buying an additional 1,124 shares in the last quarter. Vestcor Inc lifted its position in PJT Partners by 54.2% during the 1st quarter. Vestcor Inc now owns 5,630 shares of the financial services provider’s stock worth $776,000 after buying an additional 1,980 shares in the last quarter. XTX Topco Ltd lifted its position in PJT Partners by 136.0% during the 1st quarter. XTX Topco Ltd now owns 3,713 shares of the financial services provider’s stock worth $512,000 after buying an additional 2,140 shares in the last quarter. Corton Capital Inc. acquired a new position in PJT Partners during the 1st quarter worth about $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PJT Partners by 4.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,223 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 275 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the company’s stock in a transaction that occurred on 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 owned 8,847 shares of the company’s stock, valued at $1,329,615.63. This represents a 54.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel David Adam Travin sold 2,288 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The disclosure for this sale can be found here. Insiders sold a total of 23,792 shares of company stock valued at $3,686,825 in the last quarter. 11.75% of the stock is currently owned by insiders.

PJT Partners Stock Performance

Shares of PJT opened at $175.78 on Wednesday. The stock has a 50 day simple moving average of $172.99 and a 200 day simple moving average of $156.58. PJT Partners Inc. has a 52-week low of $116.07 and a 52-week high of $190.27. The firm has a market capitalization of $4.27 billion, a PE ratio of 30.20 and a beta of 0.77.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (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 business had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same period in the previous year, the firm earned $1.19 EPS. PJT Partners’s quarterly revenue was up 13.0% compared to the same quarter last year. Equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PJT. Wolfe Research reissued an “underperform” rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price target on PJT Partners from $161.00 to $199.00 and gave the company a “market perform” rating in a research note on Monday, July 14th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PJT Partners currently has a consensus rating of “Reduce” and an average price target of $174.67.

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.