LPL Financial LLC Has $1.58 Million Position in PJT Partners Inc. $PJT

LPL Financial LLC reduced its stake in shares of PJT Partners Inc. (NYSE:PJT) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,474 shares of the financial services provider’s stock after selling 127 shares during the period. LPL Financial LLC’s holdings in PJT Partners were worth $1,582,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the 1st quarter valued at $39,000. Morse Asset Management Inc increased its stake in shares of PJT Partners by 1,640.0% in the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider’s stock valued at $60,000 after buying an additional 410 shares during the period. GAMMA Investing LLC increased its stake in shares of PJT Partners by 33.4% in the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider’s stock valued at $82,000 after buying an additional 149 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of PJT Partners in the 4th quarter valued at $201,000. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Trading Down 0.9%

Shares of NYSE PJT opened at $175.2040 on Friday. The business’s 50 day moving average is $173.77 and its 200-day moving average is $156.79. PJT Partners Inc. has a 1-year low of $116.07 and a 1-year high of $190.27. The firm has a market cap of $4.26 billion, a P/E ratio of 30.10 and a beta of 0.77.

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

PJT Partners Announces Dividend

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

Insider Activity at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction dated 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. This trade represents a 75.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 2,288 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were 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 have sold a total of 23,792 shares of company stock valued at $3,686,825 in the last 90 days. 11.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently commented on PJT. Keefe, Bruyette & Woods lifted 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 reaffirmed an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price 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.