Insider Selling: PJT Partners Inc. (NYSE:PJT) Director Sells 1,725 Shares of Stock

PJT Partners Inc. (NYSE:PJT) Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

PJT Partners Price Performance

Shares of PJT traded down $1.14 during mid-day trading on Tuesday, hitting $159.59. 178,664 shares of the company’s stock were exchanged, compared to its average volume of 233,955. PJT Partners Inc. has a 52 week low of $82.00 and a 52 week high of $163.85. The company has a market cap of $3.78 billion, a PE ratio of 40.79 and a beta of 0.61. The company has a 50-day simple moving average of $136.23 and a 200 day simple moving average of $120.01.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. On average, analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is 25.38%.

Institutional Trading of PJT Partners

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in PJT Partners by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock valued at $230,669,000 after buying an additional 17,463 shares during the period. Champlain Investment Partners LLC increased its position in shares of PJT Partners by 7.4% in the 3rd quarter. Champlain Investment Partners LLC now owns 594,359 shares of the financial services provider’s stock valued at $79,252,000 after acquiring an additional 41,119 shares during the period. Dimensional Fund Advisors LP lifted its holdings in PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock valued at $49,446,000 after acquiring an additional 22,117 shares during the period. Congress Asset Management Co. boosted its stake in shares of PJT Partners by 29.6% in the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after acquiring an additional 72,582 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PJT Partners by 4.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 252,090 shares of the financial services provider’s stock worth $33,614,000 after acquiring an additional 11,707 shares during the period. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. UBS Group increased their target price on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, JMP Securities upped their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, PJT Partners currently has an average rating of “Hold” and a consensus target price of $123.80.

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.