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

Envestnet Asset Management Inc. lessened its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 14.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 reporting period.

Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System increased its position in PJT Partners by 11.4% in 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 buying an additional 1,254 shares in the last quarter. Millennium Management LLC purchased a new stake in PJT Partners in the fourth quarter worth about $555,000. Principal Financial Group Inc. increased its position in PJT Partners by 2.6% in the first 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 increased its position in PJT Partners by 18,294.4% in the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after buying an additional 81,593 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its position in PJT Partners by 53.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock worth $910,000 after buying an additional 2,012 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Buying and Selling

In related news, 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 transaction of $1,563,466.87. Following the completion of the transaction, the director directly owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The sale 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 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 directly owned 2,288 shares of the company's stock, valued at approximately $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 three months, insiders have sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

PJT Partners Price Performance

Shares of NYSE:PJT traded up $1.71 during trading on Wednesday, hitting $186.07. 131,788 shares of the company's stock were exchanged, compared to its average volume of 249,517. PJT Partners Inc. has a 52-week low of $116.06 and a 52-week high of $190.28. The business's 50-day simple moving average is $161.62 and its 200 day simple moving average is $153.96. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 32.82 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $361.26 million. During the same quarter last year, the business posted $0.98 earnings per share. The firm's revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were paid a dividend of $0.25 per share. 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 payout ratio 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.