abrdn plc Has $19.80 Million Holdings in PJT Partners Inc. (NYSE:PJT)

abrdn plc trimmed its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 148,503 shares of the financial services provider's stock after selling 12,234 shares during the period. abrdn plc owned 0.62% of PJT Partners worth $19,801,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in PJT Partners during the 1st quarter valued at about $298,000. Norden Group LLC purchased a new position in PJT Partners during the first quarter valued at approximately $1,509,000. Diversify Advisory Services LLC purchased a new stake in PJT Partners in the 1st quarter worth approximately $690,000. BNP Paribas Financial Markets lifted its position in PJT Partners by 116.0% in the 1st quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider's stock worth $3,888,000 after buying an additional 22,157 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of PJT Partners during the 1st quarter valued at $39,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PJT shares. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group increased their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. JMP Securities lifted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group increased their price target on shares of PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, PJT Partners has an average rating of "Hold" and a consensus price target of $123.80.

PJT Partners Price Performance

Shares of NYSE PJT traded up $0.58 during trading hours on Friday, hitting $139.55. 133,546 shares of the stock were exchanged, compared to its average volume of 232,957. PJT Partners Inc. has a one year low of $77.90 and a one year high of $151.10. The company's 50 day moving average is $133.05 and its 200 day moving average is $117.26. The firm has a market capitalization of $3.32 billion, a P/E ratio of 35.42 and a beta of 0.61.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.19. PJT Partners had a return on equity of 18.98% and a net margin of 8.03%. The business had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the company posted $0.78 earnings per share. The firm's revenue for the quarter was up 17.2% on a year-over-year basis. Research analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Wednesday, December 4th. PJT Partners's payout ratio is presently 25.38%.

Insider Buying and Selling

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the transaction, the insider now directly owns 61,433 shares of the company's stock, valued at approximately $7,301,312.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the sale, the insider now owns 61,433 shares of the company's stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kievdi Don Cornwell sold 11,586 shares of the business's stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock valued at $2,870,848 over the last three months. 11.71% of the stock is owned by corporate insiders.

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.