Bank of New York Mellon Corp Invests $28.40 Million in PJT Partners Inc. $PJT

Bank of New York Mellon Corp bought a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 188,135 shares of the financial services provider's stock, valued at approximately $28,397,000. Bank of New York Mellon Corp owned approximately 0.73% of PJT Partners at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PJT. Versant Capital Management Inc boosted its stake in PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider's stock worth $35,000 after purchasing an additional 99 shares during the period. Allworth Financial LP increased its holdings in PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 133 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in PJT Partners in the 1st quarter valued at $50,000. State of Wyoming purchased a new stake in PJT Partners in the 2nd quarter worth $63,000. Finally, Kestra Advisory Services LLC purchased a new stake in PJT Partners in the 4th quarter worth $65,000. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PJT shares. Zacks Research upgraded PJT Partners from a "strong sell" rating to a "hold" rating in a research report on Monday, June 29th. Weiss Ratings reissued a "hold (c)" rating on shares of PJT Partners in a research note on Wednesday. Wall Street Zen lowered PJT Partners from a "buy" rating to a "hold" rating in a research note on Saturday. Keefe, Bruyette & Woods raised their price target on PJT Partners from $185.00 to $195.00 and gave the company an "outperform" rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets lifted their price objective on PJT Partners from $183.00 to $194.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $177.50.

Insider Activity

In other news, Director Emily K. Rafferty sold 1,100 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $167.35, for a total transaction of $184,085.00. Following the transaction, the director owned 9,568 shares of the company's stock, valued at approximately $1,601,204.80. This represents a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kievdi Don Cornwell sold 7,845 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the sale, the director owned 18,865 shares in the company, valued at approximately $3,272,700.20. The trade was a 29.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is currently owned by company insiders.

PJT Partners Price Performance

Shares of PJT stock opened at $183.02 on Friday. The company has a market cap of $4.68 billion, a PE ratio of 25.04 and a beta of 0.84. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62. The stock's 50 day simple moving average is $166.55 and its two-hundred day simple moving average is $155.87.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. The firm had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. Equities research analysts expect that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.5%. PJT Partners's payout ratio is currently 13.68%.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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