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

Congress Asset Management Co. lifted its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 19.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 485,575 shares of the financial services provider's stock after acquiring an additional 79,894 shares during the period. Congress Asset Management Co. owned 2.08% of PJT Partners worth $66,951,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Sanctuary Advisors LLC boosted its stake in shares of PJT Partners by 2.9% during the fourth quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider's stock valued at $375,000 after acquiring an additional 65 shares during the last quarter. Xponance Inc. boosted its stake in shares of PJT Partners by 7.4% during the fourth quarter. Xponance Inc. now owns 1,659 shares of the financial services provider's stock valued at $262,000 after acquiring an additional 115 shares during the last quarter. NDVR Inc. boosted its stake in shares of PJT Partners by 6.0% during the fourth quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock valued at $324,000 after acquiring an additional 116 shares during the last quarter. Atria Investments Inc boosted its stake in shares of PJT Partners by 5.0% during the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock valued at $425,000 after acquiring an additional 129 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 146 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $161.00 and gave the stock a "market perform" rating in a report on Monday, May 12th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $154.50.

PJT Partners Trading Up 2.2%

NYSE PJT traded up $3.35 during mid-day trading on Friday, reaching $154.41. 123,172 shares of the company's stock traded hands, compared to its average volume of 245,106. PJT Partners Inc. has a 1-year low of $99.77 and a 1-year high of $190.28. The company has a fifty day simple moving average of $140.75 and a 200-day simple moving average of $152.27. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 31.51 and a beta of 0.74.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. The company had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.65%. PJT Partners's dividend payout ratio is currently 17.64%.

Insider Activity at PJT Partners

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the sale, the director now owns 8,847 shares of the company's stock, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the business's 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $3,722,082 in the last 90 days. 11.75% of the stock is currently owned by company 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.