Sei Investments Co. boosted its stake in PJT Partners Inc. (NYSE:PJT – Free Report) by 331.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,283 shares of the financial services provider’s stock after acquiring an additional 43,993 shares during the period. Sei Investments Co.’s holdings in PJT Partners were worth $8,004,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PJT Partners in the 1st quarter valued at about $50,000. State of Wyoming acquired a new stake in shares of PJT Partners in the 2nd quarter valued at about $63,000. Kestra Advisory Services LLC purchased a new position in PJT Partners during the 4th quarter worth approximately $65,000. Finally, Exchange Traded Concepts LLC purchased a new position in PJT Partners during the 4th quarter worth approximately $86,000. Institutional investors and hedge funds own 89.23% of the company’s stock.
PJT Partners Price Performance
NYSE:PJT opened at $168.03 on Monday. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 22.99 and a beta of 0.85. The firm’s fifty day moving average price is $159.53 and its 200 day moving average price is $156.26. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62.
PJT Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners’s dividend payout ratio is 13.68%.
Insider Activity at PJT Partners
In related news, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the sale, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Grace Reksten Skaugen sold 1,283 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $167.67, for a total value of $215,120.61. Following the transaction, the director directly owned 500 shares in the company, valued at $83,835. This represents a 71.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group reiterated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a research report on Wednesday. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $179.33.
Check Out Our Latest Research Report on PJT Partners
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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