Klingman & Associates LLC Sells 5,000 Shares of PJT Partners Inc. $PJT

Key Points

• Klingman & Associates LLC reduced its stake in PJT Partners Inc. by 32.1%, selling 5,000 shares and retaining 10,567 shares valued at approximately $1.74 million.
• Several hedge funds, including BI Asset Management and Quarry LP, have entered new positions in PJT Partners, indicating a strong interest from institutional investors, which collectively own 89.23% of the company's stock.
• PJT Partners recently announced a quarterly dividend of $0.25 per share, demonstrating a 0.6% yield and a dividend payout ratio of 17.18%.

Klingman & Associates LLC decreased its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 32.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,567 shares of the financial services provider's stock after selling 5,000 shares during the period. Klingman & Associates LLC's holdings in PJT Partners were worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new position in PJT Partners during the first quarter valued at approximately $45,000. Quarry LP bought a new position in PJT Partners during the first quarter valued at approximately $45,000. Morse Asset Management Inc lifted its position in PJT Partners by 1,640.0% during the first quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 410 shares during the period. SouthState Corp lifted its position in PJT Partners by 126.7% during the first quarter. SouthState Corp now owns 544 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 304 shares during the period. Finally, GAMMA Investing LLC lifted its position in PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 149 shares during the period. Institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on PJT shares. Evercore ISI set a $180.00 price target on shares of PJT Partners in a research report on Monday, October 13th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PJT Partners in a research report on Wednesday, October 8th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. BMO Capital Markets started coverage on shares of PJT Partners in a research report on Friday, October 3rd. They issued an "outperform" rating and a $205.00 price target on the stock. Finally, Keefe, Bruyette & Woods decreased their price target on shares of PJT Partners from $196.00 to $180.00 and set a "hold" rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $185.00.

Insider Buying and Selling at PJT Partners

In related news, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares of the company's stock, valued at approximately $88,445. This trade represents a 75.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 2,288 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The disclosure for this sale can be found here. Company insiders own 11.75% of the company's stock.

PJT Partners Price Performance

Shares of NYSE PJT opened at $178.10 on Tuesday. The firm has a fifty day moving average price of $179.50 and a 200-day moving average price of $164.23. The stock has a market cap of $4.33 billion, a PE ratio of 30.60 and a beta of 0.76. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $190.27.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

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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