PJT Partners Inc. $PJT Shares Sold by Smartleaf Asset Management LLC

Smartleaf Asset Management LLC trimmed its stake in shares of PJT Partners Inc. (NYSE:PJT) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,091 shares of the financial services provider’s stock after selling 251 shares during the quarter. Smartleaf Asset Management LLC’s holdings in PJT Partners were worth $148,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Congress Asset Management Co. raised its position in shares of PJT Partners by 19.7% during the 1st quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider’s stock worth $66,951,000 after purchasing an additional 79,894 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PJT Partners by 52.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider’s stock worth $23,438,000 after purchasing an additional 58,656 shares during the period. Principal Financial Group Inc. increased its position in PJT Partners by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider’s stock valued at $19,797,000 after acquiring an additional 3,645 shares during the period. TimesSquare Capital Management LLC increased its position in PJT Partners by 1.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 132,852 shares of the financial services provider’s stock valued at $18,318,000 after acquiring an additional 1,904 shares during the period. Finally, Tidal Investments LLC acquired a new stake in PJT Partners in the 4th quarter valued at approximately $20,059,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Keefe, Bruyette & Woods raised their target price on PJT Partners from $161.00 to $199.00 and gave the company a “market perform” rating in a research report on Monday, July 14th. Wolfe Research restated an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PJT Partners currently has an average rating of “Reduce” and a consensus price target of $174.67.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $181.71 on Thursday. The stock has a fifty day moving average price of $175.98 and a two-hundred day moving average price of $156.93. The firm has a market cap of $4.42 billion, a P/E ratio of 31.22 and a beta of 0.77. PJT Partners Inc. has a 1 year low of $116.07 and a 1 year high of $190.27.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.18. The business had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The company’s revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. On average, research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid 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 currently 17.18%.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 2,288 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total transaction of $407,401.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of the firm’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, the director directly owned 8,847 shares of the company’s stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,195 shares of company stock valued at $2,236,911 in the last three months. 11.75% of the stock is currently owned by corporate insiders.

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.