Clearbridge Investments LLC Sells 93,516 Shares of PJT Partners Inc. (NYSE:PJT)

Clearbridge Investments LLC decreased its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 634,846 shares of the financial services provider's stock after selling 93,516 shares during the quarter. Clearbridge Investments LLC owned approximately 2.68% of PJT Partners worth $100,185,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PJT. CIBC Private Wealth Group LLC boosted its position in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of PJT Partners by 658.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock worth $28,628,000 after purchasing an additional 157,483 shares in the last quarter. Level Four Advisory Services LLC acquired a new stake in shares of PJT Partners in the 4th quarter valued at approximately $202,000. Norges Bank bought a new position in shares of PJT Partners in the fourth quarter valued at $20,269,000. Finally, Prudential Financial Inc. increased its holdings in PJT Partners by 4.5% during the fourth quarter. Prudential Financial Inc. now owns 34,099 shares of the financial services provider's stock worth $5,381,000 after buying an additional 1,458 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

PJT Partners Stock Down 4.5 %

Shares of NYSE PJT traded down $5.87 during mid-day trading on Friday, reaching $126.01. 432,336 shares of the company were exchanged, compared to its average volume of 236,986. The stock has a market capitalization of $2.94 billion, a P/E ratio of 25.72 and a beta of 0.77. The company's 50-day simple moving average is $155.44 and its 200-day simple moving average is $153.28. PJT Partners Inc. has a twelve month low of $90.95 and a twelve month high of $190.28.

Remove Ads

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Wednesday, March 5th. PJT Partners's dividend payout ratio is 20.41%.

Wall Street Analyst Weigh In

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

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.