Diversify Wealth Management LLC Decreases Stock Position in PJT Partners Inc. (NYSE:PJT)

Diversify Wealth Management LLC lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,582 shares of the financial services provider’s stock after selling 809 shares during the period. Diversify Wealth Management LLC’s holdings in PJT Partners were worth $932,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PJT. Champlain Investment Partners LLC purchased a new stake in PJT Partners during the 1st quarter valued at $43,029,000. Point72 Asset Management L.P. purchased a new stake in PJT Partners in the second quarter worth $13,803,000. Marshall Wace LLP purchased a new stake in PJT Partners in the second quarter worth $5,801,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in PJT Partners by 36.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock worth $8,017,000 after purchasing an additional 22,556 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in PJT Partners by 116.0% in the first quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider’s stock worth $3,888,000 after purchasing an additional 22,157 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Down 0.6 %

Shares of PJT Partners stock opened at $137.82 on Thursday. The firm has a market cap of $3.31 billion, a P/E ratio of 37.97 and a beta of 0.61. PJT Partners Inc. has a 12 month low of $76.22 and a 12 month high of $151.10. The stock’s fifty day moving average price is $132.45 and its 200-day moving average price is $116.96.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.19. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same quarter last year, the company earned $0.78 earnings per share. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. Analysts forecast that PJT Partners Inc. will post 4.35 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is currently 27.55%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group increased their target price on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their target price on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Finally, JMP Securities raised their price target on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $123.80.

Insider Activity at PJT Partners

In related news, Director Grace Reksten Skaugen sold 2,015 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total transaction of $251,592.90. Following the sale, the director now owns 500 shares of the company’s stock, valued at $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the sale, the director now owns 500 shares of the company’s stock, valued at approximately $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock valued at $2,870,848 over the last quarter. 10.67% of the stock is owned by corporate insiders.

About PJT Partners

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.