Vestcor Inc Has $776,000 Stake in PJT Partners Inc. (NYSE:PJT)

Key Points

• Vestcor Inc has increased its holdings in PJT Partners Inc. by 54.2% during the first quarter, owning 5,630 shares valued at $776,000.
• PJT Partners reported a quarterly EPS of $1.54, exceeding estimates by $0.18, with revenue up 13.0% year-over-year.
• The company has declared a $0.25 dividend to be paid on September 17th, equating to an annual yield of 0.6%.

Vestcor Inc raised its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 54.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,630 shares of the financial services provider's stock after buying an additional 1,980 shares during the quarter. Vestcor Inc's holdings in PJT Partners were worth $776,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. XTX Topco Ltd increased its stake in PJT Partners by 136.0% in the first quarter. XTX Topco Ltd now owns 3,713 shares of the financial services provider's stock valued at $512,000 after purchasing an additional 2,140 shares during the period. Corton Capital Inc. acquired a new stake in PJT Partners during the 1st quarter worth approximately $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PJT Partners by 4.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,223 shares of the financial services provider's stock valued at $858,000 after purchasing an additional 275 shares during the period. Westover Capital Advisors LLC lifted its position in shares of PJT Partners by 61.1% during the first quarter. Westover Capital Advisors LLC now owns 2,797 shares of the financial services provider's stock worth $386,000 after purchasing an additional 1,061 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new position in shares of PJT Partners during the first quarter valued at approximately $895,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Price Performance

PJT stock traded down $0.20 on Tuesday, reaching $181.53. 278,370 shares of the company were exchanged, compared to its average volume of 298,153. The firm has a market capitalization of $4.43 billion, a PE ratio of 31.19 and a beta of 0.77. The stock's fifty day moving average price is $167.38 and its 200 day moving average price is $155.44. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The business had revenue of $731.09 billion during the quarter, compared to analysts' expectations of $343.11 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm's revenue was up 13.0% on a year-over-year basis. As a group, research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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

Insider Buying and Selling at PJT Partners

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction dated 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. Over the last ninety days, insiders sold 22,288 shares of company stock valued at $3,420,783. 11.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $174.67.

About PJT Partners

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.