PJT Partners Inc. (NYSE:PJT) Shares Sold by Quest Partners LLC

Quest Partners LLC decreased its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 42.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,191 shares of the financial services provider's stock after selling 3,100 shares during the quarter. Quest Partners LLC's holdings in PJT Partners were worth $559,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in PJT. Louisiana State Employees Retirement System raised its position in shares of PJT Partners by 0.9% in the 2nd 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 increased its holdings in PJT Partners by 0.9% in 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 buying an additional 100 shares in the last quarter. American Century Companies Inc. boosted its position in 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 worth $1,601,000 after purchasing an additional 120 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of PJT Partners by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $454,000 after buying an additional 136 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in PJT Partners by 1.4% during the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider's stock valued at $1,129,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PJT shares. UBS Group lifted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research report on Tuesday, October 8th. 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 research note on Wednesday, July 31st. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Finally, JMP Securities boosted their target price 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. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $123.80.

Insider Activity at PJT Partners

In related news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $7,301,312.05. This represents a 14.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kievdi Don Cornwell sold 11,586 shares of the 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 transaction, the director now directly owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,367 shares of company stock worth $3,633,828 over the last three months. 11.71% of the stock is currently owned by corporate insiders.

PJT Partners Stock Up 1.2 %

Shares of NYSE PJT traded up $1.98 during mid-day trading on Friday, hitting $162.79. 336,202 shares of the company were exchanged, compared to its average volume of 248,809. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 41.32 and a beta of 0.61. The stock has a 50 day simple moving average of $144.06 and a 200-day simple moving average of $124.02. PJT Partners Inc. has a 1-year low of $84.57 and a 1-year high of $163.85.

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 for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $326.30 million for 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 business's quarterly revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders 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 annualized dividend and a dividend yield of 0.61%. PJT Partners's dividend 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.