Cary Street Partners Financial LLC Takes $1 Million Position in PJT Partners Inc. (NYSE:PJT)

Cary Street Partners Financial LLC acquired a new position in PJT Partners Inc. (NYSE:PJT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,364 shares of the financial services provider's stock, valued at approximately $1,004,000.

A number of other large investors have also added to or reduced their stakes in PJT. Barclays PLC increased its stake in PJT Partners by 158.6% in the 3rd quarter. Barclays PLC now owns 52,045 shares of the financial services provider's stock worth $6,940,000 after acquiring an additional 31,922 shares during the last quarter. JPMorgan Chase & Co. increased its stake in PJT Partners by 91.4% in the 3rd 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 last quarter. GAMMA Investing LLC increased its stake in PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock worth $70,000 after acquiring an additional 109 shares during the last quarter. Ellsworth Advisors LLC increased its stake in PJT Partners by 3.8% in the 4th 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 last quarter. Finally, Nisa Investment Advisors LLC increased its stake in PJT Partners by 4.1% in the 4th 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 last quarter. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PJT. Citizens Jmp downgraded PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $152.00 to $161.00 and gave the company a "market perform" rating in a research report on Monday. Finally, JMP Securities downgraded PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus target price of $154.50.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the 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 in the company, valued at approximately $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.71% of the company's stock.

PJT Partners Price Performance

Shares of PJT stock traded up $5.35 during mid-day trading on Monday, hitting $149.61. The stock had a trading volume of 188,462 shares, compared to its average volume of 243,252. PJT Partners Inc. has a 12-month low of $99.42 and a 12-month high of $190.28. The firm has a market capitalization of $3.49 billion, a P/E ratio of 30.55 and a beta of 0.76. The firm's 50-day moving average is $137.97 and its two-hundred day moving average is $152.45.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 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 firm had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. During the same period in the previous year, the company posted $0.98 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.67%. PJT Partners's payout ratio is 17.64%.

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.