Tower Research Capital LLC TRC Sells 309 Shares of PJT Partners Inc. (NYSE:PJT)

Tower Research Capital LLC TRC trimmed its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,667 shares of the financial services provider’s stock after selling 309 shares during the quarter. Tower Research Capital LLC TRC’s holdings in PJT Partners were worth $263,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PJT. Barclays PLC increased its holdings in shares of PJT Partners by 158.6% during the third quarter. Barclays PLC now owns 52,045 shares of the financial services provider’s stock worth $6,940,000 after purchasing an additional 31,922 shares during the period. Virtu Financial LLC acquired a new stake in PJT Partners during the third quarter worth approximately $631,000. JPMorgan Chase & Co. increased its stake in PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock worth $9,636,000 after acquiring an additional 34,514 shares during the period. GAMMA Investing LLC raised its holdings in PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 109 shares in the last quarter. Finally, Ellsworth Advisors LLC lifted its position in shares of PJT Partners by 3.8% during the 4th quarter. Ellsworth Advisors LLC now owns 5,647 shares of the financial services provider’s stock valued at $891,000 after acquiring an additional 205 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners 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 directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This trade represents a 68.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 11.71% of the company’s stock.

PJT Partners Stock Up 2.4 %

Shares of PJT stock opened at $143.22 on Friday. The business has a fifty day simple moving average of $139.19 and a 200 day simple moving average of $152.48. The company has a market cap of $3.34 billion, a P/E ratio of 29.23 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $97.74 and a twelve month high of $190.28.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm had revenue of $324.50 million during the quarter, compared to analysts’ expectations of $361.26 million. During the same quarter in the prior year, the business earned $0.98 earnings per share. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.70%. PJT Partners’s dividend payout ratio is currently 17.64%.

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.