Asset Management Group Inc. Cuts Stake in PJT Partners Inc. (NYSE:PJT)

Asset Management Group Inc. cut its holdings in PJT Partners Inc. (NYSE:PJT) by 4.9% in the fourth quarter, Holdings Channel reports. The fund owned 38,494 shares of the financial services provider’s stock after selling 1,999 shares during the quarter. PJT Partners accounts for approximately 1.1% of Asset Management Group Inc.’s portfolio, making the stock its 26th largest position. Asset Management Group Inc.’s holdings in PJT Partners were worth $6,075,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Principal Securities Inc. raised its holdings 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 valued at $31,000 after purchasing an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock valued at $44,000 after buying an additional 146 shares during the period. GAMMA Investing LLC raised its stake in PJT Partners by 32.3% in 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 in the last quarter. PNC Financial Services Group Inc. lifted its holdings in PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after buying an additional 176 shares during the period. Finally, KBC Group NV boosted its position in PJT Partners by 25.4% during the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 204 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $143.22 on Friday. The business’s 50-day moving average is $139.19 and its 200 day moving average is $152.45. PJT Partners Inc. has a 1 year low of $96.96 and a 1 year high of $190.28. The firm has a market capitalization of $3.34 billion, a P/E ratio of 29.23 and a beta of 0.77.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. The firm had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.98 earnings per share. On average, analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. PJT Partners’s payout ratio is currently 20.41%.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel now owns 2,288 shares in the company, valued at approximately $324,301.12. The trade was a 68.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.71% of the company’s stock.

Wall Street Analyst Weigh In

PJT has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, JMP Securities downgraded shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $158.50.

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.