Amundi Sells 2,402 Shares of 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 cut its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 19.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,927 shares of the financial services provider's stock after selling 2,402 shares during the quarter. Amundi's holdings in PJT Partners were worth $1,309,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Versant Capital Management Inc bought a new stake in PJT Partners in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners during the 1st quarter worth $39,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PJT Partners during the 1st quarter worth $45,000. Quarry LP acquired a new stake in shares of PJT Partners during the 1st quarter worth $45,000. Finally, Morse Asset Management Inc grew its holdings in shares of PJT Partners by 1,640.0% during the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after purchasing an additional 410 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PJT. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price objective 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. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Stock Performance

Shares of PJT stock traded up $5.25 on Thursday, hitting $188.79. The company had a trading volume of 147,857 shares, compared to its average volume of 147,092. The firm has a market cap of $4.59 billion, a P/E ratio of 32.44 and a beta of 0.75. The stock's 50-day moving average is $180.69 and its two-hundred day moving average is $158.41. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts' consensus estimates of $1.36 by $0.18. The business 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 firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.19 earnings per share. Equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

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

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business'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 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 disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

PJT Partners 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.