Chartwell Investment Partners LLC trimmed its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,717 shares of the financial services provider's stock after selling 6,927 shares during the period. Chartwell Investment Partners LLC owned about 0.26% of PJT Partners worth $8,229,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of PJT Partners by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider's stock valued at $230,669,000 after acquiring an additional 17,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock valued at $49,446,000 after acquiring an additional 22,117 shares in the last quarter. Champlain Investment Partners LLC purchased a new position in shares of PJT Partners in the first quarter valued at about $43,029,000. Congress Asset Management Co. lifted its position in shares of PJT Partners by 29.6% in the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider's stock valued at $42,399,000 after acquiring an additional 72,582 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of PJT Partners in the second quarter valued at about $13,803,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Costos sold 1,500 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,642 shares of company stock worth $3,358,259. 11.71% of the stock is owned by corporate insiders.
PJT Partners Stock Up 1.0 %
NYSE:PJT traded up $1.65 during mid-day trading on Monday, reaching $161.04. The company's stock had a trading volume of 88,554 shares, compared to its average volume of 233,531. The firm has a market capitalization of $3.82 billion, a PE ratio of 40.45 and a beta of 0.61. The stock has a fifty day moving average of $136.23 and a 200-day moving average of $120.01. PJT Partners Inc. has a 1 year low of $82.00 and a 1 year high of $163.85.
PJT Partners (NYSE:PJT - Get Free Report) last announced its 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 business had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm's revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 earnings per share. On average, analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current year.
PJT Partners Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. PJT Partners's dividend payout ratio is presently 25.38%.
Analysts Set New Price Targets
A number of research firms recently commented on PJT. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. JMP Securities boosted 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. Finally, UBS Group boosted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $123.80.
Read Our Latest Stock Analysis on PJT Partners
About PJT Partners
(
Free Report)
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.
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