Man Group plc Trims Position in PJT Partners Inc. (NYSE:PJT)

Man Group plc cut its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,251 shares of the financial services provider's stock after selling 5,788 shares during the period. Man Group plc owned about 0.19% of PJT Partners worth $7,141,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. increased its stake in shares of PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after buying an additional 158 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of PJT Partners by 112.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PJT Partners by 51.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after buying an additional 176 shares during the last quarter. KBC Group NV increased its position in shares of PJT Partners by 25.4% during the fourth quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock valued at $159,000 after buying an additional 204 shares during the period. Finally, Seneca House Advisors purchased a new position in PJT Partners during the fourth quarter worth about $202,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm's 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 completion of the transaction, the general counsel now owns 2,288 shares of the company's stock, valued at $324,301.12. This trade represents a 68.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 11.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods upped their price objective on shares of 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 investment analysts have rated the stock with a hold rating, According to MarketBeat, PJT Partners presently has an average rating of "Hold" and an average price target of $154.50.

PJT Partners Stock Down 1.0%

Shares of NYSE:PJT traded down $1.45 during trading on Friday, hitting $146.38. 218,409 shares of the stock traded hands, compared to its average volume of 245,643. The company has a market cap of $3.58 billion, a price-to-earnings ratio of 29.87 and a beta of 0.76. The company has a fifty day moving average price of $139.08 and a two-hundred day moving average price of $152.80. PJT Partners Inc. has a 52-week low of $99.77 and a 52-week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. During the same period in the prior year, the company posted $0.98 EPS. The business's quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. PJT Partners's dividend payout ratio (DPR) 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.