PJT Partners Inc. (NYSE:PJT) Position Trimmed by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,496 shares of the financial services provider's stock after selling 2,426 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of PJT Partners worth $2,130,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. grew its stake in shares of PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after buying an additional 158 shares in the last quarter. Quarry LP lifted its position in PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider's stock worth $28,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC boosted its stake in PJT Partners by 32.3% during the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock worth $70,000 after buying an additional 109 shares during the period. KBC Group NV raised its stake in shares of PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider's stock valued at $107,000 after acquiring an additional 426 shares during the period. Finally, Seneca House Advisors purchased a new position in shares of PJT Partners during the 4th quarter worth about $202,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PJT. Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities cut shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 13th. Finally, Citizens Jmp downgraded PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $158.50.

PJT Partners Stock Performance

NYSE PJT traded up $2.93 on Wednesday, reaching $158.75. The stock had a trading volume of 77,866 shares, compared to its average volume of 256,710. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $190.27. The business's 50-day moving average price is $163.17 and its 200 day moving average price is $149.15. The stock has a market cap of $3.76 billion, a P/E ratio of 32.44 and a beta of 0.67.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.71. The firm had revenue of $477.30 million for the quarter, compared to analysts' expectations of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's revenue was up 45.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.96 EPS. On average, sell-side analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners's payout ratio is 20.41%.

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.