Asset Management Group Inc. Reduces Holdings in PJT Partners Inc. (NYSE:PJT)

Asset Management Group Inc. reduced its stake in PJT Partners Inc. (NYSE:PJT) by 0.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,493 shares of the financial services provider’s stock after selling 114 shares during the quarter. Asset Management Group Inc. owned about 0.17% of PJT Partners worth $5,399,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. SouthState Corp purchased a new stake in PJT Partners during the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners during the second quarter worth about $30,000. GAMMA Investing LLC boosted its position 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 during the last quarter. KBC Group NV increased its holdings in PJT Partners by 113.0% in 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 period. Finally, nVerses Capital LLC purchased a new position in PJT Partners during the 3rd quarter worth approximately $213,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the transaction, the director now owns 9,100 shares in the company, valued at $1,453,725. The trade was a 15.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was 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. Insiders sold 28,367 shares of company stock valued at $3,633,828 over the last 90 days. 11.71% of the stock is currently owned by corporate insiders.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $161.06 on Friday. The firm has a market cap of $3.82 billion, a PE ratio of 40.88 and a beta of 0.61. PJT Partners Inc. has a one year low of $83.88 and a one year high of $163.85. The firm has a fifty day moving average of $142.47 and a 200 day moving average 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 for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, equities analysts predict that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.62%. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Analyst Upgrades and Downgrades

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