Congress Asset Management Co. Purchases 79,894 Shares of PJT Partners Inc. (NYSE:PJT)

Congress Asset Management Co. raised its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 19.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,575 shares of the financial services provider's stock after purchasing an additional 79,894 shares during the quarter. Congress Asset Management Co. owned approximately 2.08% of PJT Partners worth $66,951,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new stake in PJT Partners in the 1st quarter worth approximately $30,000. Principal Securities Inc. raised its position in shares of PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 158 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock worth $82,000 after buying an additional 176 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of PJT Partners during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective 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 equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $154.50.

PJT Partners Stock Down 1.2%

PJT traded down $1.91 during trading on Tuesday, hitting $153.27. The company's stock had a trading volume of 143,056 shares, compared to its average volume of 244,201. The firm's 50 day moving average price is $141.45 and its two-hundred day moving average price is $152.23. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of 31.28 and a beta of 0.74. PJT Partners Inc. has a 12 month low of $99.77 and a 12 month high of $190.28.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's dividend payout ratio is presently 17.64%.

Insider Activity

In related news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kievdi Don Cornwell sold 9,597 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $151.08, for a total transaction of $1,449,914.76. Following the completion of the transaction, the director now directly owns 19,250 shares in the company, valued at approximately $2,908,290. The trade was a 33.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $3,722,082 over the last three months. 11.75% of the stock is owned by insiders.

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.