PJT Partners Inc. (NYSE:PJT) Shares Bought by State Street Corp

State Street Corp boosted its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 5.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,001,911 shares of the financial services provider's stock after acquiring an additional 54,071 shares during the quarter. State Street Corp owned 4.23% of PJT Partners worth $133,595,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in PJT Partners in the 2nd quarter valued at $26,000. Quarry LP raised its position in shares of PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider's stock valued at $28,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock worth $45,000 after buying an additional 146 shares in the last quarter. KBC Group NV boosted its position in PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider's stock worth $107,000 after acquiring an additional 426 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in PJT Partners during the 3rd quarter valued at about $213,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was 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. This trade represents a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the business's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $762,980 in the last ninety days. 11.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PJT. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and upped their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities upped their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $134.80.

PJT Partners Stock Performance

Shares of PJT Partners stock traded down $1.92 during trading hours on Friday, hitting $163.91. The company's stock had a trading volume of 148,114 shares, compared to its average volume of 231,701. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 41.60 and a beta of 0.65. PJT Partners Inc. has a twelve month low of $88.51 and a twelve month high of $168.92. The firm has a fifty day moving average of $153.12 and a 200-day moving average of $130.73.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analysts' expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm's revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. On average, sell-side analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners's payout ratio is currently 25.38%.

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.