Citigroup Inc. Grows Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Citigroup Inc. increased its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 101.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,103 shares of the financial services provider's stock after buying an additional 15,135 shares during the period. Citigroup Inc. owned 0.13% of PJT Partners worth $4,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PJT. Los Angeles Capital Management LLC acquired a new stake in shares of PJT Partners in the third quarter valued at $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider's stock worth $11,427,000 after purchasing an additional 20,845 shares during the period. Atria Investments Inc increased its position in PJT Partners by 5.9% in 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 period. AdvisorShares Investments LLC acquired a new stake in PJT Partners in the second quarter worth about $535,000. Finally, Raymond James & Associates boosted its holdings in PJT Partners by 5.4% during the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider's stock worth $15,370,000 after buying an additional 5,929 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. UBS Group boosted their target price on PJT Partners from $110.00 to $120.00 and gave the company a "sell" rating in a research note on Tuesday, October 8th. JMP Securities boosted their price target on PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $123.80.

PJT Partners Stock Performance

NYSE:PJT traded up $0.26 during trading hours on Wednesday, reaching $161.09. The stock had a trading volume of 147,878 shares, compared to its average volume of 233,791. The stock has a 50 day simple moving average of $148.58 and a 200 day simple moving average of $127.54. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $168.92. The stock has a market cap of $3.82 billion, a P/E ratio of 40.88 and a beta of 0.65.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $326.30 million during the quarter, compared to analysts' expectations of $313.46 million. During the same period in the prior year, the business earned $0.78 EPS. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities analysts expect that PJT Partners Inc. will post 4.4 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, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. PJT Partners's dividend payout ratio (DPR) is currently 25.38%.

Insider Activity at PJT Partners

In related news, Director James Costos sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of the company's 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 transaction, the director now directly owns 9,100 shares in the company, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,766 shares of company stock worth $762,980. Corporate insiders own 11.71% of the company's stock.

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.