Invesco Ltd. Sells 36,314 Shares of PJT Partners Inc. $PJT

Key Points

• Invesco Ltd. reduced its holdings in PJT Partners Inc. by 12.6%, now owning 251,621 shares valued at approximately $34.7 million.
• During the first quarter, various institutional investors, including PNC Financial Services Group Inc. and Morse Asset Management Inc., increased their stakes in PJT Partners, reflecting strong institutional interest.
• PJT Partners reported earnings of $1.54 per share, exceeding analyst expectations, along with a quarterly revenue increase of 13% compared to the previous year.

Invesco Ltd. cut its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 251,621 shares of the financial services provider's stock after selling 36,314 shares during the quarter. Invesco Ltd. owned approximately 1.08% of PJT Partners worth $34,694,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versant Capital Management Inc acquired a new position in PJT Partners during the 1st quarter worth about $30,000. Opal Wealth Advisors LLC acquired a new position in PJT Partners during the 1st quarter worth about $39,000. Morse Asset Management Inc lifted its holdings in PJT Partners by 1,640.0% during the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after buying an additional 410 shares during the period. GAMMA Investing LLC lifted its holdings in PJT Partners by 33.4% during the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock worth $82,000 after buying an additional 149 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in PJT Partners by 72.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 892 shares of the financial services provider's stock worth $123,000 after buying an additional 375 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Trading Up 2.9%

PJT Partners stock traded up $5.0950 during midday trading on Friday, reaching $180.3950. The stock had a trading volume of 279,914 shares, compared to its average volume of 242,778. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27. The company has a market capitalization of $4.39 billion, a P/E ratio of 31.00 and a beta of 0.77. The company has a fifty day moving average price of $174.36 and a two-hundred day moving average price of $156.69.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The business had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same period in the previous year, the company posted $1.19 EPS. The firm's revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. PJT Partners's payout ratio is presently 17.18%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PJT. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research report on Monday, July 14th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $174.67.

Insider Activity at PJT Partners

In related news, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction dated 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 completion of the sale, the director directly owned 8,847 shares of the company's stock, valued at $1,329,615.63. The trade was a 54.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director directly owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,792 shares of company stock valued at $3,686,825 in the last three months. Corporate 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.