Klingman & Associates LLC Sells 72,500 Shares of PJT Partners Inc. (NYSE:PJT)

Klingman & Associates LLC decreased its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 48.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,802 shares of the financial services provider's stock after selling 72,500 shares during the period. Klingman & Associates LLC owned 0.32% of PJT Partners worth $10,241,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted 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 valued at $230,669,000 after purchasing an additional 17,463 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of PJT Partners by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock valued at $49,446,000 after purchasing an additional 22,117 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in shares of PJT Partners during the 1st quarter valued at about $43,029,000. Congress Asset Management Co. boosted its position in shares of PJT Partners by 29.6% during 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. Finally, Point72 Asset Management L.P. bought a new stake in shares of PJT Partners during the 2nd quarter valued at about $13,803,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PJT shares. The Goldman Sachs Group upped their target price on PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. JMP Securities increased their price target on PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 9th. Finally, UBS Group increased their price target on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $123.80.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 1,541 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director James Costos sold 1,500 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $1,510,797.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the firm's stock in a transaction 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 sold 26,642 shares of company stock valued at $3,358,259 over the last ninety days. 11.71% of the stock is currently owned by insiders.

PJT Partners Trading Up 0.2 %

Shares of PJT traded up $0.24 on Friday, reaching $159.39. 179,220 shares of the company's stock traded hands, compared to its average volume of 234,199. The stock has a market cap of $3.78 billion, a PE ratio of 40.45 and a beta of 0.61. The stock's 50 day simple moving average is $136.23 and its two-hundred day simple moving average is $119.84. PJT Partners Inc. has a 52-week low of $81.25 and a 52-week high of $163.54.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same period last year, the business posted $0.78 earnings per share. The business's revenue for the quarter was up 17.2% on a year-over-year basis. Analysts forecast that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, December 4th. PJT Partners's dividend payout ratio is currently 25.38%.

PJT Partners Company 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.