Principal Financial Group Inc. Has $17.91 Million Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Principal Financial Group Inc. boosted its position in PJT Partners Inc. (NYSE:PJT) by 0.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 134,290 shares of the financial services provider’s stock after purchasing an additional 152 shares during the period. Principal Financial Group Inc. owned about 0.56% of PJT Partners worth $17,906,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SouthState Corp acquired a new stake in shares of PJT Partners in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners in the 2nd quarter valued at $30,000. GAMMA Investing LLC lifted its holdings in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 146 shares during the last quarter. nVerses Capital LLC bought a new position in PJT Partners during the third quarter worth $213,000. Finally, EntryPoint Capital LLC increased its holdings in shares of PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Up 0.1 %

Shares of PJT opened at $159.09 on Friday. PJT Partners Inc. has a 12 month low of $82.64 and a 12 month high of $163.85. The firm’s 50 day moving average is $138.64 and its 200-day moving average is $121.20. The stock has a market capitalization of $3.77 billion, a PE ratio of 40.38 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping 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 company’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Equities research analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

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 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 0.63%. PJT Partners’s dividend payout ratio is 25.38%.

Insider Buying and Selling

In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at $62,430. The trade was a 80.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at $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 quarter. 11.71% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. UBS Group upped their target price on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, JMP Securities lifted their price target 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 analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, PJT Partners presently has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners 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.