Geode Capital Management LLC Purchases 45,327 Shares of PJT Partners Inc. (NYSE:PJT)

Geode Capital Management LLC increased its position in shares of PJT Partners Inc. (NYSE:PJT) by 7.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 619,037 shares of the financial services provider’s stock after acquiring an additional 45,327 shares during the period. Geode Capital Management LLC owned about 2.61% of PJT Partners worth $82,556,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Captrust Financial Advisors grew its holdings in shares of PJT Partners by 2.2% during the third quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 67 shares during the last quarter. M&T Bank Corp grew its holdings in PJT Partners by 3.5% during the 3rd quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock worth $296,000 after acquiring an additional 75 shares during the last quarter. Louisiana State Employees Retirement System increased its position in PJT Partners by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after acquiring an additional 100 shares during the period. New York State Teachers Retirement System raised its stake in shares of PJT Partners by 0.9% during the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock valued at $1,425,000 after acquiring an additional 100 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director James Costos sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the transaction, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 in the last quarter. 11.71% of the stock is owned by corporate insiders.

PJT Partners Stock Up 0.9 %

PJT stock opened at $152.86 on Friday. The company’s fifty day simple moving average is $154.48 and its 200 day simple moving average is $131.80. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $168.92. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of 38.80 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 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.65%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Analyst Ratings Changes

A number of research firms recently weighed in on PJT. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities increased 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $134.80.

PJT Partners 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.