Squarepoint Ops LLC Invests $1.08 Million in PJT Partners Inc. (NYSE:PJT)

Squarepoint Ops LLC purchased a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,859 shares of the financial services provider's stock, valued at approximately $1,082,000.

A number of other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC raised its position in shares of PJT Partners by 53.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock valued at $910,000 after buying an additional 2,012 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of PJT Partners in the 4th quarter valued at about $316,000. Norges Bank purchased a new position in PJT Partners during the 4th quarter worth approximately $20,269,000. Principal Financial Group Inc. boosted its stake in shares of PJT Partners by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock worth $22,083,000 after buying an additional 5,644 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PJT Partners by 1.3% in 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 purchasing an additional 3,173 shares during the period. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Trading Down 1.6%

NYSE:PJT traded down $2.46 during mid-day trading on Wednesday, hitting $149.32. The stock had a trading volume of 162,462 shares, compared to its average volume of 245,211. The company has a 50 day simple moving average of $140.21 and a 200-day simple moving average of $152.41. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.47 and a beta of 0.76. PJT Partners Inc. has a 52 week low of $99.77 and a 52 week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. As a group, equities research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.67%. PJT Partners's payout ratio is 17.64%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods boosted their price target on PJT Partners from $152.00 to $161.00 and gave the stock a "market perform" rating in a research note 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 a consensus target price of $154.50.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of the 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kievdi Don Cornwell sold 10,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total value of $1,563,466.87. Following the completion of the transaction, the director now directly owns 8,847 shares in the company, valued at $1,329,615.63. The trade was a 54.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,000 shares of company stock valued at $3,722,082 in the last quarter. Corporate insiders own 11.75% of the company's stock.

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.