Bank of America Corp DE Sells 62,661 Shares of PJT Partners Inc. (NYSE:PJT)

Bank of America Corp DE lessened its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,051 shares of the financial services provider's stock after selling 62,661 shares during the quarter. Bank of America Corp DE owned about 1.10% of PJT Partners worth $41,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Algert Global LLC bought a new stake in PJT Partners in the fourth quarter valued at about $405,000. Comerica Bank increased its holdings in PJT Partners by 13.5% in the fourth quarter. Comerica Bank now owns 17,603 shares of the financial services provider's stock valued at $2,778,000 after purchasing an additional 2,095 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in PJT Partners in the fourth quarter valued at about $5,351,000. Aquatic Capital Management LLC increased its holdings in PJT Partners by 863.0% in the fourth quarter. Aquatic Capital Management LLC now owns 11,556 shares of the financial services provider's stock valued at $1,824,000 after purchasing an additional 10,356 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in PJT Partners in the fourth quarter valued at about $220,000. Institutional investors own 89.23% of the company's stock.

Insider Transactions at PJT Partners

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

PJT Partners Price Performance

Shares of PJT Partners stock opened at $147.42 on Friday. PJT Partners Inc. has a 1 year low of $99.42 and a 1 year high of $190.28. The business has a 50-day moving average of $138.03 and a two-hundred day moving average of $152.52. The company has a market capitalization of $3.43 billion, a P/E ratio of 30.09 and a beta of 0.76.

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

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. PJT Partners's dividend payout ratio is currently 17.64%.

Wall Street Analysts Forecast Growth

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

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.

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