PJT Partners Inc. (NYSE:PJT) Shares Sold by Asset Management Group Inc.

Asset Management Group Inc. trimmed its stake in shares of PJT Partners Inc. (NYSE:PJT) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,493 shares of the financial services provider’s stock after selling 114 shares during the quarter. Asset Management Group Inc.’s holdings in PJT Partners were worth $5,399,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. SouthState Corp acquired a new stake in shares of PJT Partners in the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners in the second quarter valued at $30,000. GAMMA Investing LLC raised its stake in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares in the last quarter. KBC Group NV lifted its holdings in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after buying an additional 426 shares during the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of PJT Partners by 41.0% during the 1st quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $161.06 on Friday. PJT Partners Inc. has a 1-year low of $83.88 and a 1-year high of $163.85. The stock has a market cap of $3.82 billion, a P/E ratio of 40.88 and a beta of 0.61. The firm has a fifty day moving average price of $142.47 and a 200 day moving average price of $123.31.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Analyst Ratings Changes

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

Insider Buying and Selling at PJT Partners

In other news, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the transaction, the director now owns 500 shares in the company, valued at $62,430. This trade represents a 80.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,367 shares of company stock valued at $3,633,828. 11.71% of the stock is owned by company insiders.

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.