Envestnet Asset Management Inc. Sells 13,273 Shares of PJT Partners Inc. (NYSE:PJT)

Envestnet Asset Management Inc. reduced its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,254 shares of the financial services provider's stock after selling 13,273 shares during the quarter. Envestnet Asset Management Inc. owned 0.35% of PJT Partners worth $11,203,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System grew 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 acquiring an additional 1,254 shares during the last quarter. Millennium Management LLC bought a new position in shares of PJT Partners during the fourth quarter worth about $555,000. Principal Financial Group Inc. grew its position in shares of PJT Partners by 2.6% during the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after acquiring an additional 3,645 shares during the last quarter. GAMMA Investing LLC grew its position in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after acquiring an additional 81,593 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in shares of PJT Partners by 53.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock worth $910,000 after acquiring an additional 2,012 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of PJT Partners stock traded up $1.96 during trading on Tuesday, hitting $184.31. 51,946 shares of the company were exchanged, compared to its average volume of 249,400. The firm has a market capitalization of $4.50 billion, a P/E ratio of 32.51 and a beta of 0.76. PJT Partners Inc. has a 1-year low of $116.06 and a 1-year high of $190.28. The firm's fifty day moving average price is $160.16 and its 200 day moving average price is $153.52.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. During the same period in the previous year, the firm earned $0.98 EPS. PJT Partners's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, equities research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, June 4th. PJT Partners's dividend payout ratio is 17.64%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PJT. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $164.00.

Insiders Place Their Bets

In related news, 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 transaction of $1,563,466.87. Following the completion of the sale, the director directly owned 8,847 shares in the company, valued at $1,329,615.63. This represents a 54.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners 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 sale, the general counsel directly owned 2,288 shares in the company, valued at $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock worth $3,722,082. Insiders own 11.75% of the company's stock.

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.