Wellington Management Group LLP Sells 16,756 Shares of PJT Partners Inc. (NYSE:PJT)

Wellington Management Group LLP trimmed its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 639,839 shares of the financial services provider's stock after selling 16,756 shares during the period. Wellington Management Group LLP owned about 2.70% of PJT Partners worth $85,316,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Quarry LP boosted its position in shares of PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 136 shares in the last quarter. SouthState Corp acquired a new stake in PJT Partners during the second quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 146 shares during the period. KBC Group NV raised its holdings in shares of PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider's stock worth $107,000 after buying an additional 426 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of PJT Partners during the 3rd quarter worth approximately $213,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 1,541 shares of the company's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares of the company's stock, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $762,980 in the last quarter. 11.71% of the stock is owned by company insiders.

PJT Partners Trading Up 3.8 %

Shares of PJT Partners stock traded up $6.05 during trading on Wednesday, reaching $164.50. The company's stock had a trading volume of 161,571 shares, compared to its average volume of 232,597. The stock has a 50-day moving average price of $151.29 and a two-hundred day moving average price of $129.51. The stock has a market capitalization of $3.90 billion, a P/E ratio of 41.75 and a beta of 0.65. PJT Partners Inc. has a one year low of $88.51 and a one year high of $168.92.

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

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners's dividend payout ratio (DPR) is presently 25.38%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on PJT shares. UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities increased their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a research 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $134.80.

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.