Principal Financial Group Inc. Has $13.23 Million Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Principal Financial Group Inc. raised its holdings in PJT Partners Inc. (NYSE:PJT) by 934.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 129,872 shares of the financial services provider’s stock after acquiring an additional 117,322 shares during the period. Principal Financial Group Inc.’s holdings in PJT Partners were worth $13,230,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its position in shares of PJT Partners by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 421,860 shares of the financial services provider’s stock valued at $42,976,000 after acquiring an additional 8,857 shares during the period. Teacher Retirement System of Texas acquired a new position in PJT Partners during the 4th quarter valued at $250,000. Versor Investments LP boosted its holdings in PJT Partners by 31.7% in the 4th quarter. Versor Investments LP now owns 4,100 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 987 shares during the period. Charles Schwab Investment Management Inc. grew its position in PJT Partners by 7.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 223,134 shares of the financial services provider’s stock worth $22,731,000 after purchasing an additional 15,491 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in shares of PJT Partners during the 4th quarter worth about $826,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Up 2.1 %

NYSE PJT opened at $107.09 on Friday. The stock has a market cap of $2.57 billion, a P/E ratio of 29.50 and a beta of 0.67. PJT Partners Inc. has a twelve month low of $66.43 and a twelve month high of $107.57. The company’s 50-day simple moving average is $96.69 and its 200 day simple moving average is $96.25.

PJT Partners (NYSE:PJT) last issued its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53. The business had revenue of $329.39 million during the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. PJT Partners’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Research analysts anticipate that PJT Partners Inc. will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.93%. PJT Partners’s dividend payout ratio is presently 27.55%.

Insider Activity

In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the transaction, the chief financial officer now directly owns 48,821 shares in the company, valued at $5,151,103.71. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Helen T. Meates sold 12,926 shares of PJT Partners stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the transaction, the chief financial officer now owns 48,821 shares in the company, valued at $5,151,103.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares in the company, valued at $7,678,368.18. The disclosure for this sale can be found here. 10.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PJT shares. UBS Group reiterated a “sell” rating and issued a $75.00 target price (down previously from $100.00) on shares of PJT Partners in a research note on Tuesday, March 26th. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.25.

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.