24,466 Shares in PJT Partners Inc. (NYSE:PJT) Purchased by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC purchased a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,466 shares of the financial services provider's stock, valued at approximately $3,373,000. Richard Bernstein Advisors LLC owned approximately 0.11% of PJT Partners at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of PJT Partners by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock valued at $40,283,000 after buying an additional 3,173 shares during the period. Atria Investments Inc boosted its position in shares of PJT Partners by 5.0% during the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock valued at $425,000 after buying an additional 129 shares during the period. Raymond James Financial Inc. purchased a new position in shares of PJT Partners during the fourth quarter valued at approximately $89,192,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of PJT Partners during the fourth quarter valued at approximately $321,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

Separately, 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, May 12th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $154.50.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $170.60 on Tuesday. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 30.09 and a beta of 0.76. The stock has a 50 day moving average price of $152.94 and a 200 day moving average price of $152.03. PJT Partners Inc. has a 52-week low of $109.32 and a 52-week high of $190.28.

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, beating analysts' consensus estimates of $0.94 by $0.11. The firm had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. PJT Partners's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. Analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.59%. PJT Partners's dividend payout ratio is currently 17.64%.

Insiders Place Their Bets

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the transaction, the director directly owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel directly owned 2,288 shares in the company, valued at approximately $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by company insiders.

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.

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