PJT Partners Inc. (NYSE:PJT) Shares Acquired by Massachusetts Financial Services Co. MA

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new stake in PJT Partners during the 1st quarter valued at approximately $30,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners during the first quarter worth $39,000. CIBC Private Wealth Group LLC boosted its stake 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 buying an additional 146 shares during the period. PNC Financial Services Group Inc. boosted its stake in PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock worth $82,000 after buying an additional 176 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of PJT Partners by 33.4% in the first 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. Institutional investors own 89.23% of the company's stock.

PJT Partners Price Performance

Shares of NYSE PJT traded up $2.32 during midday trading on Monday, hitting $185.27. 59,870 shares of the company's stock were exchanged, compared to its average volume of 249,573. The company has a market cap of $4.53 billion, a PE ratio of 32.68 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $116.06 and a twelve month high of $190.28. The firm's fifty day simple moving average is $159.50 and its 200-day simple moving average is $153.34.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly 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. The firm had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Equities analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

PJT has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research report on Monday, July 14th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $164.00.

Insider Activity

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the company'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 owned 8,847 shares of the company's stock, valued at $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 2nd. The stock was 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 owned 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $3,722,082 in the last ninety days. Company 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.