Diversify Advisory Services LLC Buys New Stake in PJT Partners Inc. (NYSE:PJT)

Diversify Advisory Services LLC bought a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,590 shares of the financial services provider's stock, valued at approximately $366,000.

Other hedge funds have also recently bought and sold shares of the company. New York State Teachers Retirement System lifted its position in shares of PJT Partners by 11.4% during the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider's stock worth $1,689,000 after purchasing an additional 1,254 shares in the last quarter. Millennium Management LLC acquired a new position in PJT Partners in the 4th quarter worth $555,000. Principal Financial Group Inc. lifted its holdings in PJT Partners by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after buying an additional 3,645 shares in the last quarter. GAMMA Investing LLC boosted its position in 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 buying an additional 81,593 shares during the last quarter. Finally, Richard Bernstein Advisors LLC acquired a new stake in shares of PJT Partners during the first quarter valued at about $3,373,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on PJT. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $161.00 to $199.00 and gave the stock 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 report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $164.00.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction dated 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 owned 2,288 shares of the company's stock, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction that occurred 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 owned 8,847 shares in the company, valued at $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,000 shares of company stock valued at $3,722,082. Insiders own 11.75% of the company's stock.

PJT Partners Stock Up 0.0%

NYSE:PJT traded up $0.03 during trading hours on Thursday, reaching $186.02. 265,087 shares of the stock were exchanged, compared to its average volume of 241,920. The stock has a market capitalization of $4.54 billion, a P/E ratio of 32.81 and a beta of 0.76. The firm has a 50 day simple moving average of $162.39 and a 200-day simple moving average of $154.16. PJT Partners Inc. has a 52 week low of $116.06 and a 52 week high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The firm had revenue of $324.50 million for the quarter, compared to analysts' expectations of $361.26 million. During the same period last year, the business posted $0.98 earnings per share. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is presently 17.64%.

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.