3,307 Shares in PJT Partners Inc. $PJT Bought by Versor Investments LP

Key Points

• Versor Investments LP acquired 3,307 shares in PJT Partners Inc. worth approximately $456,000, marking the firm's entry into the company's stock during Q1.
• In recent months, multiple hedge funds, including First Bank & Trust and Xponance Inc., increased their positions in PJT Partners, which is now 89.23% owned by institutional investors.
• PJT Partners announced a quarterly dividend of $0.25 per share, with an annualized dividend yield of 0.6%, set to be paid to shareholders on September 17th.

Versor Investments LP bought a new position in PJT Partners Inc. (NYSE:PJT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,307 shares of the financial services provider's stock, valued at approximately $456,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Congress Asset Management Co. boosted its holdings in PJT Partners by 19.7% in the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after acquiring an additional 79,894 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PJT Partners by 52.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock worth $23,438,000 after purchasing an additional 58,656 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of PJT Partners by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after purchasing an additional 3,645 shares during the last quarter. TimesSquare Capital Management LLC raised its position in PJT Partners by 1.5% in the 1st quarter. TimesSquare Capital Management LLC now owns 132,852 shares of the financial services provider's stock worth $18,318,000 after buying an additional 1,904 shares during the last quarter. Finally, Tidal Investments LLC purchased a new position in PJT Partners in the 4th quarter worth about $20,059,000. Institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

PJT has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research report on Monday, July 14th. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PJT Partners currently has a consensus rating of "Reduce" and an average price target of $174.67.

Insider Buying and Selling

In related news, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the sale, the director directly owned 500 shares in the company, valued at $88,445. This trade represents a 75.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,563,466.87. Following the completion of the sale, the director 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 disclosure for this sale can be found here. Insiders sold a total of 23,792 shares of company stock worth $3,686,825 over the last three months. 11.75% of the stock is owned by insiders.

PJT Partners Price Performance

Shares of NYSE PJT traded up $3.85 during midday trading on Tuesday, reaching $181.86. 174,516 shares of the stock traded hands, compared to its average volume of 235,938. The stock has a market capitalization of $4.42 billion, a PE ratio of 31.25 and a beta of 0.77. PJT Partners Inc. has a one year low of $116.07 and a one year high of $190.27. The company's 50 day moving average is $175.43 and its 200 day moving average is $156.76.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. The firm had revenue of $731.09 billion during the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.19 EPS. As a group, equities analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. PJT Partners's dividend payout ratio (DPR) is currently 17.18%.

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.