Algert Global LLC Takes $405,000 Position in PJT Partners Inc. (NYSE:PJT)

Algert Global LLC bought a new position in PJT Partners Inc. (NYSE:PJT - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,567 shares of the financial services provider's stock, valued at approximately $405,000.

Several other hedge funds also recently bought and sold shares of PJT. Barclays PLC raised its holdings in PJT Partners by 158.6% in the third quarter. Barclays PLC now owns 52,045 shares of the financial services provider's stock worth $6,940,000 after purchasing an additional 31,922 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of PJT Partners by 91.4% during the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock worth $9,636,000 after acquiring an additional 34,514 shares during the period. Ellsworth Advisors LLC raised its holdings in shares of PJT Partners by 3.8% during the fourth quarter. Ellsworth Advisors LLC now owns 5,647 shares of the financial services provider's stock worth $891,000 after acquiring an additional 205 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of PJT Partners by 4.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,080 shares of the financial services provider's stock worth $802,000 after acquiring an additional 200 shares during the period. Finally, Seneca House Advisors acquired a new stake in shares of PJT Partners during the fourth quarter worth $202,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the sale, the general counsel now directly owns 2,288 shares in the company, valued at approximately $324,301.12. The trade was a 68.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.75% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $152.00 to $161.00 and gave the stock a "market perform" rating in a report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners has an average rating of "Hold" and a consensus target price of $154.50.

PJT Partners Stock Up 2.3%

Shares of NYSE:PJT traded up $3.39 during midday trading on Friday, reaching $150.67. 280,077 shares of the company were exchanged, compared to its average volume of 245,102. PJT Partners Inc. has a fifty-two week low of $99.42 and a fifty-two week high of $190.28. The stock has a fifty day simple moving average of $138.21 and a two-hundred day simple moving average of $152.60. The firm has a market cap of $3.51 billion, a PE ratio of 30.75 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same period in the previous year, the business earned $0.98 EPS. The company's revenue was down 1.5% compared to the same quarter last year. As a group, analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.66%. PJT Partners's payout ratio is currently 17.64%.

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.