Wells Fargo & Company MN Sells 33,668 Shares of PJT Partners Inc. (NYSE:PJT)

Wells Fargo & Company MN cut its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 24.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,285 shares of the financial services provider's stock after selling 33,668 shares during the quarter. Wells Fargo & Company MN owned 0.44% of PJT Partners worth $16,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Principal Securities Inc. lifted its stake in PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after acquiring an additional 158 shares during the period. CIBC Private Wealth Group LLC lifted its position in shares of PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC boosted its stake in shares of PJT Partners by 32.3% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 109 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after buying an additional 176 shares during the period. Finally, KBC Group NV raised its stake in PJT Partners by 25.4% in the fourth quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock worth $159,000 after buying an additional 204 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Up 0.7 %

Shares of NYSE:PJT traded up $0.88 on Friday, hitting $129.57. 236,834 shares of the company traded hands, compared to its average volume of 244,664. The stock has a 50 day simple moving average of $145.95 and a 200-day simple moving average of $152.81. The company has a market cap of $3.02 billion, a PE ratio of 26.44 and a beta of 0.77. PJT Partners Inc. has a 52 week low of $92.12 and a 52 week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The business had revenue of $477.30 million during the quarter, compared to analysts' expectations of $384.64 million. During the same period in the previous year, the company earned $0.96 earnings per share. The business's revenue for the quarter was up 45.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, March 5th. PJT Partners's payout ratio is currently 20.41%.

Wall Street Analysts Forecast Growth

PJT has been the subject of several research reports. Citizens Jmp lowered PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Finally, JMP Securities lowered shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $158.50.

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.