Alps Advisors Inc. Buys New Holdings in PJT Partners Inc. (NYSE:PJT)

Alps Advisors Inc. purchased a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,570 shares of the financial services provider's stock, valued at approximately $354,000.

Several other large investors also recently modified their holdings of PJT. New York State Teachers Retirement System grew its holdings in shares of PJT Partners by 11.4% during the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider's stock worth $1,689,000 after buying an additional 1,254 shares in the last quarter. Millennium Management LLC bought a new position in shares of PJT Partners during the fourth quarter worth about $555,000. Principal Financial Group Inc. grew its holdings in shares of PJT Partners by 2.6% during the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after buying an additional 3,645 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after buying an additional 81,593 shares in the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of PJT Partners during the first quarter worth about $3,373,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PJT shares. Keefe, Bruyette & Woods increased their price target on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research report on Monday, July 14th. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to MarketBeat, PJT Partners has an average rating of "Hold" and a consensus price target of $164.00.

PJT Partners Price Performance

PJT Partners stock traded down $1.08 during mid-day trading on Friday, reaching $182.93. 252,051 shares of the company were exchanged, compared to its average volume of 250,319. The company has a fifty day simple moving average of $159.50 and a 200-day simple moving average of $153.36. PJT Partners Inc. has a 12 month low of $116.06 and a 12 month high of $190.28. The firm has a market cap of $4.47 billion, a PE ratio of 32.26 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 return on equity of 23.81% and a net margin of 10.47%. The company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter last year, the company posted $0.98 EPS. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current 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 given 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 0.55%. PJT Partners's dividend payout ratio is currently 17.64%.

Insiders Place Their Bets

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction dated 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 directly owned 2,288 shares of the company's stock, 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 can be accessed through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the transaction, the director directly owned 8,847 shares in the company, valued at $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $3,722,082 in the last 90 days. 11.75% of the stock is currently owned by corporate insiders.

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.