Point72 Asset Management L.P. Trims Stock Position in PJT Partners Inc. (NYSE:PJT)

Point72 Asset Management L.P. trimmed its position in PJT Partners Inc. (NYSE:PJT) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 122,952 shares of the financial services provider’s stock after selling 4,963 shares during the period. Point72 Asset Management L.P.’s holdings in PJT Partners were worth $16,394,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PJT. SouthState Corp acquired a new position in PJT Partners in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of PJT Partners during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its position in shares of PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares during the last quarter. KBC Group NV raised its holdings in PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after buying an additional 426 shares during the period. Finally, OLD National Bancorp IN purchased a new stake in PJT Partners in the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

PJT has been the subject of several research analyst reports. JMP Securities increased their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their target price for the company from $130.00 to $175.00 in a report on Friday. One equities research analyst has 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, the company has an average rating of “Hold” and a consensus target price of $134.80.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $762,980 in the last quarter. Corporate insiders own 11.71% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT opened at $164.21 on Friday. The company’s 50-day simple moving average is $150.28 and its 200-day simple moving average is $128.43. PJT Partners Inc. has a 1 year low of $88.51 and a 1 year high of $168.92. The stock has a market capitalization of $3.89 billion, a PE ratio of 41.68 and a beta of 0.65.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same period in the prior year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, sell-side analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.61%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

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.