Geode Capital Management LLC Grows Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Geode Capital Management LLC increased its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 7.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 619,037 shares of the financial services provider's stock after purchasing an additional 45,327 shares during the period. Geode Capital Management LLC owned approximately 2.61% of PJT Partners worth $82,556,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. SouthState Corp bought a new position in shares of PJT Partners in the second quarter valued at $26,000. Quarry LP raised its holdings in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock worth $28,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC lifted its position in PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 146 shares in the last quarter. KBC Group NV lifted its position in PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider's stock valued at $107,000 after acquiring an additional 426 shares in the last quarter. Finally, nVerses Capital LLC acquired a new position in PJT Partners during the 3rd quarter valued at about $213,000. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Trading Up 1.7 %

Shares of PJT stock traded up $2.55 during trading on Friday, hitting $155.41. The company's stock had a trading volume of 515,916 shares, compared to its average volume of 233,202. The company has a market cap of $3.68 billion, a PE ratio of 39.44 and a beta of 0.65. The business has a fifty day moving average of $154.70 and a 200-day moving average of $132.12. PJT Partners Inc. has a 52 week low of $88.51 and a 52 week 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business's revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, research analysts predict that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. PJT Partners's dividend payout ratio (DPR) is presently 25.38%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group upgraded 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 report on Friday, December 6th. Keefe, Bruyette & Woods increased their price target on PJT Partners from $151.00 to $159.00 and gave the company a "market perform" rating in a research report on Friday. Finally, JMP Securities lifted their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $141.00.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction dated 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 directly owns 9,360 shares of the company's stock, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock valued at $762,980. Company 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.