Dean Investment Associates LLC Trims Stake in PJT Partners Inc. (NYSE:PJT)

Dean Investment Associates LLC cut its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 41.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,306 shares of the financial services provider's stock after selling 12,173 shares during the period. Dean Investment Associates LLC owned about 0.07% of PJT Partners worth $2,308,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of PJT Partners in the second quarter valued at about $13,803,000. Congress Asset Management Co. raised its holdings in shares of 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 valued at $42,399,000 after purchasing an additional 72,582 shares in the last quarter. State Street Corp lifted its position in shares of 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 worth $133,595,000 after purchasing an additional 54,071 shares during the period. Marshall Wace LLP bought a new position in shares of PJT Partners during the second quarter valued at approximately $5,801,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new position in shares of PJT Partners during the third quarter valued at approximately $5,675,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director James Costos sold 1,500 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now owns 9,100 shares of the company's stock, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 in the last three months. Corporate insiders own 11.71% of the company's stock.

PJT Partners Price Performance

NYSE PJT traded down $5.50 on Monday, hitting $158.71. The stock had a trading volume of 214,837 shares, compared to its average volume of 233,154. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92. The business's fifty day moving average price is $150.78 and its 200 day moving average price is $129.15. The stock has a market cap of $3.76 billion, a price-to-earnings ratio of 40.28 and a beta of 0.65.

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 (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company 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 firm's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. As a group, sell-side analysts anticipate 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 will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners's payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

PJT has been the subject of a number of analyst reports. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and upped their target price for the stock from $130.00 to $175.00 in a report on Friday. JMP Securities upped their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, PJT Partners presently has a consensus rating of "Hold" and an average price target of $134.80.

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.