PJT Partners Inc. $PJT Holdings Reduced by Prospector Partners LLC

Prospector Partners LLC decreased its stake in shares of PJT Partners Inc. (NYSE:PJT) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,800 shares of the financial services provider’s stock after selling 27,156 shares during the quarter. PJT Partners comprises 9.6% of Prospector Partners LLC’s holdings, making the stock its 5th largest position. Prospector Partners LLC’s holdings in PJT Partners were worth $4,481,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in PJT. Royal Bank of Canada lifted its position in PJT Partners by 45.7% during the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 3,596 shares in the last quarter. AQR Capital Management LLC lifted its position in PJT Partners by 57.7% during the first quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock worth $1,011,000 after buying an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PJT Partners by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock worth $1,915,000 after buying an additional 620 shares in the last quarter. Millennium Management LLC lifted its position in PJT Partners by 1,394.5% during the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after buying an additional 49,046 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in PJT Partners by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after purchasing an additional 19,806 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of NYSE PJT opened at $152.16 on Monday. The stock’s 50-day moving average is $154.27 and its two-hundred day moving average is $158.94. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 22.18 and a beta of 0.85.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.03. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. During the same quarter in the prior year, the business earned $1.05 EPS. PJT Partners’s revenue was up 28.9% on a year-over-year basis. Equities research analysts anticipate that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s dividend payout ratio is 14.58%.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Helen T. Meates sold 8,000 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the sale, the chief financial officer owned 58,466 shares in the company, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Zacks Research lowered PJT Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st. UBS Group upped their price target on PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods upped their price target on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PJT Partners has an average rating of “Hold” and a consensus target price of $173.33.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.