Harbor Capital Advisors Inc. Invests $1.03 Million in PJT Partners Inc. (NYSE:PJT)

Harbor Capital Advisors Inc. bought a new position in PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,501 shares of the financial services provider's stock, valued at approximately $1,034,000.

A number of other hedge funds also recently bought and sold shares of PJT. Versant Capital Management Inc purchased a new position in shares of PJT Partners during the first quarter worth approximately $30,000. Principal Securities Inc. grew its holdings in shares of PJT Partners by 385.4% during the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. lifted its stake in PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock worth $82,000 after purchasing an additional 176 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in PJT Partners in the fourth quarter worth $201,000. Institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

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

PJT Partners Trading Down 0.7%

PJT stock traded down $1.12 during midday trading on Tuesday, hitting $152.48. The company had a trading volume of 161,774 shares, compared to its average volume of 244,900. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 26.89 and a beta of 0.74. PJT Partners Inc. has a 52 week low of $103.57 and a 52 week high of $190.28. The stock's 50 day moving average price is $144.08 and its 200 day moving average price is $151.81.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 10.47% and a return on equity of 23.81%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 EPS. Analysts predict 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 will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is 17.64%.

Insider Transactions at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction 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 sale, the general counsel now owns 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 transaction 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 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 transaction, the director now owns 8,847 shares of the company's stock, valued at $1,329,615.63. This trade represents a 54.04% 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. Company insiders own 11.75% of the company's stock.

About PJT Partners

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.