Jane Street Group LLC Sells 4,345 Shares of PJT Partners Inc. (NYSE:PJT)

Jane Street Group LLC decreased its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 11.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 34,349 shares of the financial services provider's stock after selling 4,345 shares during the quarter. Jane Street Group LLC owned approximately 0.14% of PJT Partners worth $4,580,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. purchased a new position in shares of PJT Partners in the second quarter worth about $13,803,000. Congress Asset Management Co. boosted its holdings in PJT Partners by 29.6% in the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider's stock worth $42,399,000 after buying an additional 72,582 shares during the period. State Street Corp grew its stake in PJT Partners by 5.7% in the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider's stock valued at $133,595,000 after buying an additional 54,071 shares in the last quarter. Marshall Wace LLP bought a new stake in PJT Partners during the 2nd quarter valued at $5,801,000. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new stake in shares of PJT Partners during the third quarter worth $5,675,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Trading Down 5.0 %

Shares of PJT Partners stock traded down $7.92 during trading on Wednesday, hitting $151.52. The stock had a trading volume of 281,698 shares, compared to its average volume of 231,849. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 38.46 and a beta of 0.65. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $168.92. The business's 50-day moving average is $154.03 and its 200 day moving average is $131.51.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results 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 business 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%. The company's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.78 EPS. As a group, equities analysts expect that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.66%. PJT Partners's payout ratio is presently 25.38%.

Insiders Place Their Bets

In related news, Director James Costos sold 1,500 shares of the firm'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 transaction of $242,115.00. Following the transaction, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock valued at $762,980 in the last quarter. Corporate insiders own 11.71% of the company's stock.

Analysts Set New Price Targets

PJT has been the subject of several recent research reports. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and lifted their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities lifted 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $134.80.

About PJT Partners

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.