Amundi Has $1.31 Million Position in PJT Partners Inc. $PJT

Key Points

• Amundi reduced its position in PJT Partners Inc. by 19.5%, holding a total of 9,927 shares valued at approximately $1.31 million as of the end of the reporting period.
• PJT Partners reported earnings of $1.54 per share, exceeding analyst expectations of $1.36, with revenue increasing by 13% year-over-year to $731.09 million.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 0.5%, with an upcoming ex-dividend date on September 3rd.

Amundi reduced its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,927 shares of the financial services provider's stock after selling 2,402 shares during the period. Amundi's holdings in PJT Partners were worth $1,309,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Tidal Investments LLC acquired a new stake in shares of PJT Partners in the 4th quarter valued at $20,059,000. Nuveen LLC acquired a new stake in shares of PJT Partners in the 1st quarter valued at $12,587,000. GAMMA Investing LLC boosted its stake in shares of PJT Partners by 18,294.4% in the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock valued at $11,312,000 after purchasing an additional 81,593 shares in the last quarter. Congress Asset Management Co. boosted its stake in shares of PJT Partners by 19.7% in the 1st quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after purchasing an additional 79,894 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake 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 valued at $23,438,000 after purchasing an additional 58,656 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Trading Down 1.6%

Shares of PJT stock opened at $183.84 on Friday. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $190.27. The firm's 50 day moving average is $179.96 and its 200-day moving average is $157.71. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 31.59 and a beta of 0.75.

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

PJT Partners Announces Dividend

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

Insider Buying and Selling

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the transaction, the director directly owned 500 shares in the company, valued at approximately $88,445. This represents a 75.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The disclosure for this sale can be found here. 11.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

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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