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

FMR LLC increased its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,271 shares of the financial services provider's stock after acquiring an additional 41,007 shares during the quarter. FMR LLC owned about 1.76% of PJT Partners worth $55,639,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PJT. SouthState Corp purchased a new position in shares of PJT Partners during the second quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its stake in PJT Partners by 76.4% in the third 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 period. KBC Group NV increased its stake in PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider's stock valued at $107,000 after purchasing an additional 426 shares during the period. Finally, OLD National Bancorp IN purchased a new stake in shares of PJT Partners in the second quarter valued at about $204,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PJT. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $175.00 in a research report on Friday. JMP Securities boosted their target price on PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $134.80.

PJT Partners Price Performance

Shares of PJT stock traded up $2.94 during trading hours on Friday, reaching $164.21. 176,515 shares of the company's stock were exchanged, compared to its average volume of 217,243. The company's 50 day moving average is $150.28 and its two-hundred day moving average is $128.43. The company has a market cap of $3.89 billion, a P/E ratio of 41.68 and a beta of 0.65. PJT Partners Inc. has a 1 year low of $88.51 and a 1 year high of $168.92.

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

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners's dividend payout ratio is currently 25.38%.

Insider Activity at PJT Partners

In related news, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 in the last ninety days. 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.