Klingman & Associates LLC Sells 5,000 Shares of PJT Partners Inc. $PJT

Klingman & Associates LLC lowered its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 32.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,567 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Klingman & Associates LLC’s holdings in PJT Partners were worth $1,744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Congress Asset Management Co. lifted its position in PJT Partners by 3.8% during the second quarter. Congress Asset Management Co. now owns 504,146 shares of the financial services provider’s stock valued at $83,189,000 after purchasing an additional 18,571 shares during the last quarter. Alliancebernstein L.P. lifted its position in PJT Partners by 1.4% during the first quarter. Alliancebernstein L.P. now owns 481,410 shares of the financial services provider’s stock valued at $66,377,000 after purchasing an additional 6,700 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in PJT Partners by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after purchasing an additional 19,806 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in PJT Partners by 52.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider’s stock valued at $23,438,000 after purchasing an additional 58,656 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in PJT Partners by 2.6% during the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider’s stock valued at $19,797,000 after purchasing an additional 3,645 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of PJT opened at $178.10 on Tuesday. PJT Partners Inc. has a 1-year low of $119.76 and a 1-year high of $190.27. The company has a 50-day moving average of $179.50 and a 200 day moving average of $164.23. The firm has a market capitalization of $4.33 billion, a price-to-earnings ratio of 30.60 and a beta of 0.76.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The company had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same quarter last year, the business posted $1.19 EPS. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts anticipate 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 was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners’s dividend payout ratio (DPR) is presently 17.18%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on shares of PJT Partners from $196.00 to $180.00 and set a “hold” rating for the company in a report on Monday, October 13th. Evercore ISI set a $180.00 target price on shares of PJT Partners in a report on Monday, October 13th. BMO Capital Markets assumed coverage on shares of PJT Partners in a report on Friday, October 3rd. They issued an “outperform” rating and a $205.00 target price for the company. Finally, Wolfe Research restated an “underperform” rating on shares of PJT Partners in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PJT Partners has an average rating of “Hold” and a consensus price target of $185.00.

Insider Transactions at PJT Partners

In related news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the completion of the sale, the director owned 500 shares in the company, valued at $88,445. This trade represents a 75.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The disclosure for this sale can be found here. Company insiders own 11.75% of the company’s stock.

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.