Victory Capital Management Inc. Sells 4,906 Shares of PJT Partners Inc. (NYSE:PJT)

Victory Capital Management Inc. decreased its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 4.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,893 shares of the financial services provider's stock after selling 4,906 shares during the quarter. Victory Capital Management Inc. owned 0.41% of PJT Partners worth $12,920,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. SouthState Corp acquired a new stake in shares of PJT Partners in the second quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in PJT Partners in the second quarter worth $30,000. GAMMA Investing LLC boosted its stake in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock worth $45,000 after buying an additional 146 shares in the last quarter. nVerses Capital LLC bought a new stake in PJT Partners in the 3rd quarter valued at $213,000. Finally, OLD National Bancorp IN acquired a new position in shares of PJT Partners in the 2nd quarter valued at $204,000. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Performance

NYSE:PJT opened at $155.86 on Thursday. The stock's fifty day moving average price is $141.72 and its two-hundred day moving average price is $123.08. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 39.56 and a beta of 0.61. PJT Partners Inc. has a 52-week low of $82.64 and a 52-week high of $163.85.

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 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 business had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the prior year, the business posted $0.78 earnings per share. PJT Partners's revenue was up 17.2% compared to the same quarter last year. On average, equities analysts predict that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, December 4th. PJT Partners's dividend payout ratio is currently 25.38%.

Analysts Set New Price Targets

A number of research analysts have commented on PJT shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. JMP Securities increased their price objective 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. UBS Group boosted their target price on shares of PJT Partners from $110.00 to $120.00 and gave the company a "sell" rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group lifted their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Two equities 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. Based on data from MarketBeat.com, PJT Partners currently has a consensus rating of "Hold" and an average price target of $123.80.

Insider Buying and Selling

In other PJT Partners news, Director James Costos sold 1,500 shares of the business's stock in a transaction that occurred 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 sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction dated 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 completion of the sale, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The trade was a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,367 shares of company stock valued at $3,633,828. 11.71% of the stock is owned by company insiders.

PJT Partners 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.