Point72 Asset Management L.P. Sells 4,963 Shares of PJT Partners Inc. (NYSE:PJT)

Point72 Asset Management L.P. lessened its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,952 shares of the financial services provider's stock after selling 4,963 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.52% of PJT Partners worth $16,394,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PJT. Captrust Financial Advisors raised its position in PJT Partners by 2.2% in the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider's stock valued at $420,000 after buying an additional 67 shares during the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of PJT Partners by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider's stock valued at $1,198,000 after purchasing an additional 100 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of PJT Partners by 0.9% during the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider's stock valued at $1,425,000 after purchasing an additional 100 shares in the last quarter. American Century Companies Inc. lifted its position in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider's stock valued at $1,601,000 after purchasing an additional 120 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in PJT Partners by 3.3% during the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider's stock worth $454,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In related news, General Counsel David Adam Travin sold 1,541 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 over the last quarter. Corporate insiders own 11.71% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $175.00 in a research report on Friday. JMP Securities lifted 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $134.80.

PJT Partners Trading Up 1.8 %

Shares of PJT stock traded up $2.94 during trading hours on Friday, hitting $164.21. 176,515 shares of the company were exchanged, compared to its average volume of 217,243. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 41.68 and a beta of 0.65. The firm has a fifty day simple moving average of $150.28 and a 200 day simple moving average of $128.43. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results 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. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business'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. Sell-side analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Dividend Announcement

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