Diversify Wealth Management LLC Increases Position in PJT Partners Inc. (NYSE:PJT)

Diversify Wealth Management LLC grew its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 52.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 9,974 shares of the financial services provider's stock after buying an additional 3,446 shares during the period. Diversify Wealth Management LLC's holdings in PJT Partners were worth $1,411,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of PJT Partners by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after buying an additional 127,060 shares during the last quarter. FMR LLC increased its stake in shares of PJT Partners by 52.8% during the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after acquiring an additional 220,526 shares during the period. Geode Capital Management LLC increased its stake in shares of PJT Partners by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider's stock worth $100,273,000 after acquiring an additional 16,233 shares during the period. Congress Asset Management Co. grew its position in PJT Partners by 19.7% during the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock worth $66,951,000 after buying an additional 79,894 shares during the period. Finally, Alliancebernstein L.P. grew its position in PJT Partners by 9.8% during the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider's stock worth $74,914,000 after buying an additional 42,463 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the sale, the general counsel directly owned 2,288 shares in the company, valued at $324,301.12. This represents a 68.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of the company'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 owned 8,847 shares of the company's stock, valued at approximately $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. Over the last 90 days, insiders have sold 25,000 shares of company stock valued at $3,722,082. Insiders own 11.75% of the company's stock.

Analysts Set New Price Targets

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

PJT Partners Price Performance

PJT stock opened at $175.50 on Friday. The company's 50 day simple moving average is $155.67 and its 200-day simple moving average is $152.59. The firm has a market capitalization of $4.29 billion, a PE ratio of 30.95 and a beta of 0.76. PJT Partners Inc. has a 12 month low of $112.20 and a 12 month high of $190.28.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.57%. PJT Partners's payout ratio is 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.

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