ProShare Advisors LLC Has $391,000 Holdings in PJT Partners Inc. (NYSE:PJT)

ProShare Advisors LLC trimmed its stake in shares of PJT Partners Inc. (NYSE:PJT) by 23.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,621 shares of the financial services provider’s stock after selling 1,133 shares during the period. ProShare Advisors LLC’s holdings in PJT Partners were worth $391,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Louisiana State Employees Retirement System raised 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 worth $1,198,000 after purchasing an additional 100 shares during the last quarter. American Century Companies Inc. raised its position 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 acquiring an additional 120 shares during the last quarter. Sei Investments Co. lifted its stake in shares of PJT Partners by 1.4% during the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 141 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in PJT Partners by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 158 shares during the last quarter. Finally, SouthState Corp acquired a new stake in PJT Partners in the second quarter worth about $26,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Performance

PJT opened at $133.11 on Wednesday. The firm’s fifty day moving average is $124.76 and its two-hundred day moving average is $110.10. The firm has a market cap of $3.19 billion, a PE ratio of 36.67 and a beta of 0.61. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $137.19.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. During the same quarter last year, the business posted $0.99 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.75%. PJT Partners’s dividend payout ratio is presently 27.55%.

Insider Buying and Selling

In other news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners 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 sale, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. The disclosure for this sale can be found here. In the last three months, insiders sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on PJT. JMP Securities raised their target price on shares of PJT Partners from $120.00 to $142.00 and gave the company a “market outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price objective on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, PJT Partners currently has a consensus rating of “Hold” and an average price target of $116.80.

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.