Citigroup Inc. Trims Holdings in PJT Partners Inc. $PJT

Citigroup Inc. decreased its position in shares of PJT Partners Inc. (NYSE:PJT) by 55.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,564 shares of the financial services provider’s stock after selling 15,652 shares during the period. Citigroup Inc. owned 0.05% of PJT Partners worth $2,233,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Invesco Ltd. increased its stake in shares of PJT Partners by 106.7% in the second quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock worth $85,814,000 after purchasing an additional 268,435 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of PJT Partners by 45.8% during the 2nd quarter. Schroder Investment Management Group now owns 210,126 shares of the financial services provider’s stock valued at $34,673,000 after buying an additional 66,031 shares in the last quarter. Flputnam Investment Management Co. boosted its holdings in PJT Partners by 874.1% in the 3rd quarter. Flputnam Investment Management Co. now owns 68,155 shares of the financial services provider’s stock worth $12,113,000 after buying an additional 61,158 shares during the period. Millennium Management LLC boosted its holdings in PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after buying an additional 49,046 shares during the period. Finally, Alliancebernstein L.P. increased its stake in PJT Partners by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock worth $87,239,000 after buying an additional 47,279 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Down 1.3%

Shares of PJT stock opened at $144.10 on Friday. The stock has a market cap of $3.50 billion, a P/E ratio of 21.70 and a beta of 0.85. PJT Partners Inc. has a 52 week low of $119.76 and a 52 week high of $195.62. The company’s fifty day simple moving average is $166.70 and its two-hundred day simple moving average is $171.64.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business had revenue of $535.16 million during the quarter, compared to the consensus estimate of $533.32 million. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’s revenue was up 12.1% on a year-over-year basis. On average, analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. PJT Partners’s dividend payout ratio is presently 15.06%.

Analyst Ratings Changes

PJT has been the topic of a number of recent analyst reports. Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $186.00 to $188.00 and gave the stock a “market perform” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. Zacks Research downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, The Goldman Sachs Group lowered their price target on PJT Partners from $197.00 to $174.00 and set a “neutral” rating on the stock in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $179.50.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.