Millennium Management LLC Makes New $555,000 Investment in PJT Partners Inc. (NYSE:PJT)

Millennium Management LLC acquired a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,517 shares of the financial services provider's stock, valued at approximately $555,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of PJT Partners by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after buying an additional 127,060 shares in the last quarter. FMR LLC lifted its position in PJT Partners by 52.8% during the 4th quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after buying an additional 220,526 shares in the last quarter. Geode Capital Management LLC grew its holdings in PJT Partners by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider's stock worth $100,273,000 after acquiring an additional 16,233 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in PJT Partners in the 4th quarter valued at about $89,192,000. Finally, Alliancebernstein L.P. raised its stake in shares of PJT Partners by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider's stock worth $74,914,000 after acquiring an additional 42,463 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

PJT Partners Trading Up 0.5%

PJT Partners stock traded up $0.79 during mid-day trading on Thursday, hitting $156.99. The stock had a trading volume of 247,131 shares, compared to its average volume of 244,298. The stock has a 50-day simple moving average of $142.05 and a two-hundred day simple moving average of $152.25. The stock has a market capitalization of $3.84 billion, a PE ratio of 32.04 and a beta of 0.74. PJT Partners Inc. has a 12 month low of $99.77 and a 12 month high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. The company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.98 EPS. Sell-side analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio is presently 17.64%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target 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 research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $154.50.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the transaction, the director now owns 8,847 shares in the company, valued at approximately $1,329,615.63. This trade 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 accessible through the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction dated 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 sale, the general counsel now directly owns 2,288 shares of the company's stock, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,000 shares of company stock valued at $3,722,082. 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.