abrdn plc Has $15.33 Million Stock Position in PJT Partners Inc. (NYSE:PJT)

abrdn plc trimmed its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 34.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,588 shares of the financial services provider's stock after selling 50,915 shares during the quarter. abrdn plc owned 0.41% of PJT Partners worth $15,334,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in PJT Partners during the third quarter worth $453,000. JPMorgan Chase & Co. raised its stake in PJT Partners by 91.4% during the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock worth $9,636,000 after acquiring an additional 34,514 shares in the last quarter. Geode Capital Management LLC raised its stake in PJT Partners by 7.9% during the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider's stock worth $82,556,000 after acquiring an additional 45,327 shares in the last quarter. Citigroup Inc. raised its stake in PJT Partners by 101.1% during the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider's stock worth $4,014,000 after acquiring an additional 15,135 shares in the last quarter. Finally, Atria Investments Inc grew its holdings in shares of PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider's stock worth $342,000 after purchasing an additional 142 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Trading Up 0.7 %

Shares of NYSE PJT traded up $1.20 during mid-day trading on Monday, reaching $174.74. 155,098 shares of the company's stock were exchanged, compared to its average volume of 235,999. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 35.66 and a beta of 0.67. PJT Partners Inc. has a twelve month low of $88.51 and a twelve month high of $190.27. The business has a fifty day simple moving average of $161.19 and a 200 day simple moving average of $145.24.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm had revenue of $477.30 million for the quarter, compared to analyst estimates of $384.64 million. During the same quarter in the previous year, the firm earned $0.96 EPS. The business's quarterly revenue was up 45.3% on a year-over-year basis. Equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 0.57%. PJT Partners's dividend payout ratio (DPR) is presently 20.41%.

Insider Activity at PJT Partners

In other PJT Partners 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 value of $275,568.75. Following the completion of the transaction, the director now directly owns 9,100 shares of the company's stock, valued at $1,453,725. The trade was a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.71% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Keefe, Bruyette & Woods raised their target price on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and raised their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, JMP Securities cut PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $158.50.

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.