PJT Partners Inc. (NYSE:PJT) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 29.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,371 shares of the financial services provider's stock after selling 192,076 shares during the period. Eagle Asset Management Inc. owned about 1.93% of PJT Partners worth $60,986,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. ProShare Advisors LLC raised its position in shares of PJT Partners by 7.3% during the 1st quarter. ProShare Advisors LLC now owns 4,754 shares of the financial services provider's stock worth $448,000 after acquiring an additional 323 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of PJT Partners by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider's stock worth $230,669,000 after buying an additional 17,463 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of PJT Partners in the 1st quarter valued at $386,000. Bessemer Group Inc. purchased a new position in shares of PJT Partners in the 1st quarter valued at $572,000. Finally, CANADA LIFE ASSURANCE Co raised its stake in PJT Partners by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 19,447 shares of the financial services provider's stock worth $1,831,000 after acquiring an additional 1,650 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Ji-Yeun Lee sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value 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 $7,301,312.05. This trade represents a 14.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. The trade was a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,367 shares of company stock valued at $3,633,828 over the last quarter. Company insiders own 11.71% of the company's stock.

PJT Partners Price Performance

Shares of PJT stock traded up $1.17 during midday trading on Friday, hitting $161.98. The company had a trading volume of 108,000 shares, compared to its average volume of 233,148. PJT Partners Inc. has a 52-week low of $84.57 and a 52-week high of $163.85. The company's 50 day simple moving average is $143.29 and its 200 day simple moving average is $123.58. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of 41.16 and a beta of 0.61.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data 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. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company had revenue of $326.30 million for the quarter, compared to analysts' expectations of $313.46 million. During the same period in the previous year, the company posted $0.78 EPS. PJT Partners's revenue was up 17.2% compared to the same quarter last year. Analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. PJT Partners's dividend payout ratio (DPR) is presently 25.38%.

Analysts Set New Price Targets

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

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.