Massachusetts Financial Services Co. MA Acquires 58,656 Shares of PJT Partners Inc. (NYSE:PJT)

Massachusetts Financial Services Co. MA lifted its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 52.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 169,986 shares of the financial services provider's stock after buying an additional 58,656 shares during the period. Massachusetts Financial Services Co. MA owned about 0.73% of PJT Partners worth $23,438,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Bank & Trust lifted its holdings in PJT Partners by 1.6% during the first quarter. First Bank & Trust now owns 5,186 shares of the financial services provider's stock worth $715,000 after acquiring an additional 80 shares in the last quarter. Xponance Inc. raised its holdings in PJT Partners by 5.4% during the first quarter. Xponance Inc. now owns 1,749 shares of the financial services provider's stock worth $241,000 after acquiring an additional 90 shares in the last quarter. NDVR Inc. raised its holdings in PJT Partners by 6.0% during the fourth quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock worth $324,000 after acquiring an additional 116 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after acquiring an additional 146 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock worth $82,000 after acquiring an additional 149 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Price Performance

NYSE PJT traded up $2.62 on Tuesday, reaching $184.97. The stock had a trading volume of 197,263 shares, compared to its average volume of 249,865. The firm has a fifty day moving average of $160.16 and a two-hundred day moving average of $153.52. PJT Partners Inc. has a 1-year low of $116.06 and a 1-year high of $190.28. The company has a market cap of $4.52 billion, a P/E ratio of 32.62 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter last year, the company earned $0.98 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.54%. PJT Partners's dividend payout ratio (DPR) is presently 17.64%.

Analysts Set New Price Targets

A number of research firms recently commented on PJT. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $164.00.

Insider Activity at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel directly owned 2,288 shares of the company's stock, valued at $324,301.12. This represents a 68.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the sale, the director owned 8,847 shares of the company's stock, valued at $1,329,615.63. This trade represents a 54.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $3,722,082 in the last ninety days. Insiders own 11.75% of the company's stock.

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.