Legal & General Group Plc trimmed its position in shares of PJT Partners Inc. (NYSE:PJT – Free Report) by 5.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 62,331 shares of the financial services provider’s stock after selling 3,382 shares during the period. Legal & General Group Plc’s holdings in PJT Partners were worth $10,422,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in shares of PJT Partners in the third quarter worth about $33,000. Allworth Financial LP lifted its holdings in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 133 shares during the last quarter. State of Wyoming bought a new position in shares of PJT Partners in the second quarter worth about $63,000. Quadrant Capital Group LLC bought a new position in shares of PJT Partners in the third quarter worth about $90,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of PJT Partners in the fourth quarter worth about $86,000. Institutional investors own 89.23% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently commented on PJT shares. Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. UBS Group increased their target price on shares of PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and an average target price of $173.33.
PJT Partners Price Performance
Shares of NYSE PJT opened at $154.47 on Thursday. The company has a 50 day simple moving average of $151.58 and a 200 day simple moving average of $159.29. The firm has a market cap of $3.99 billion, a PE ratio of 22.52 and a beta of 0.85. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62.
PJT Partners (NYSE:PJT – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The business had revenue of $418.20 million during the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. As a group, research analysts anticipate that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.
PJT Partners Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is 14.58%.
Insider Buying and Selling
In related news, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel owned 2,052 shares of the company’s stock, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by company insiders.
PJT Partners Profile
PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.
The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.
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