Richard Bernstein Advisors LLC Takes $3.37 Million Position in PJT Partners Inc. (NYSE:PJT)

Richard Bernstein Advisors LLC bought a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,466 shares of the financial services provider's stock, valued at approximately $3,373,000. Richard Bernstein Advisors LLC owned about 0.11% of PJT Partners at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PJT. First Bank & Trust lifted its stake in PJT Partners by 1.6% during the first quarter. First Bank & Trust now owns 5,186 shares of the financial services provider's stock worth $715,000 after purchasing an additional 80 shares in the last quarter. Xponance Inc. raised its stake in shares of PJT Partners by 7.4% in the fourth quarter. Xponance Inc. now owns 1,659 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 115 shares in the last quarter. NDVR Inc. raised its stake in shares of PJT Partners by 6.0% in the fourth quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 116 shares in the last quarter. Atria Investments Inc raised its stake in shares of PJT Partners by 5.0% in the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 129 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in shares of PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 146 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PJT Partners Price Performance

NYSE PJT traded down $3.13 on Friday, hitting $175.50. 270,846 shares of the company's stock were exchanged, compared to its average volume of 247,241. The firm's 50-day moving average price is $155.67 and its two-hundred day moving average price is $152.59. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 30.95 and a beta of 0.76. PJT Partners Inc. has a fifty-two week low of $112.20 and a fifty-two week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. The business had revenue of $324.50 million during the quarter, compared to analysts' expectations of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. On average, research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 annualized dividend and a yield of 0.57%. PJT Partners's dividend payout ratio is presently 17.64%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the firm'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 completion of the transaction, the director owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the firm'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 of the company's stock, valued at $324,301.12. The trade was a 68.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is currently owned by 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.