Clearbridge Investments LLC Sells 69,943 Shares of PJT Partners Inc. (NYSE:PJT)

Clearbridge Investments LLC trimmed its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 7.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 826,531 shares of the financial services provider's stock after selling 69,943 shares during the period. Clearbridge Investments LLC owned 3.45% of PJT Partners worth $89,191,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in PJT Partners by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider's stock worth $230,669,000 after purchasing an additional 17,463 shares during the last quarter. Dimensional Fund Advisors LP raised its position in PJT Partners by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock worth $49,446,000 after purchasing an additional 22,117 shares during the last quarter. Champlain Investment Partners LLC bought a new position in PJT Partners during the 1st quarter worth $43,029,000. Klingman & Associates LLC raised its position in shares of PJT Partners by 5.2% in the 1st quarter. Klingman & Associates LLC now owns 157,056 shares of the financial services provider's stock worth $14,804,000 after acquiring an additional 7,754 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of PJT Partners by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 137,016 shares of the financial services provider's stock worth $12,915,000 after acquiring an additional 7,144 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Grace Reksten Skaugen sold 2,015 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the sale, the director now directly owns 500 shares of the company's stock, valued at $62,430. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of the firm's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the transaction, the director now owns 500 shares of the company's stock, valued at $62,430. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PJT shares. The Goldman Sachs Group lifted their price objective on PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on PJT Partners from $85.00 to $93.00 and gave the company a "sell" rating in a research note on Tuesday, July 9th. JMP Securities lifted their price target on PJT Partners from $120.00 to $142.00 and gave the company a "market outperform" rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, PJT Partners currently has a consensus rating of "Hold" and a consensus target price of $116.80.

PJT Partners Trading Down 0.3 %

Shares of PJT traded down $0.43 during mid-day trading on Thursday, reaching $132.40. 92,571 shares of the stock traded hands, compared to its average volume of 234,122. The firm has a fifty day moving average price of $125.25 and a 200 day moving average price of $110.52. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 36.47 and a beta of 0.61. PJT Partners Inc. has a 1 year low of $71.47 and a 1 year high of $137.19.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.49. The business had revenue of $360.00 million for the quarter, compared to analysts' expectations of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm's revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, sell-side analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.76%. PJT Partners's dividend payout ratio is presently 27.55%.

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.