Vanguard Group Inc. Has $345.59 Million Stock Position in PJT Partners Inc. $PJT

Key Points

• Vanguard Group Inc. reduced its stake in PJT Partners by 0.4%, bringing its ownership to approximately 10.76% of the firm, which is valued at $345.6 million.
• Several institutional investors have altered their positions in PJT Partners, with notable increases from PNC Financial Services Group (72.5%) and Morse Asset Management (1,640%).
• PJT Partners has announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 0.6%, and is scheduled for payment on September 17th.

Vanguard Group Inc. lessened its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,506,473 shares of the financial services provider's stock after selling 9,127 shares during the period. Vanguard Group Inc. owned 10.76% of PJT Partners worth $345,592,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. First Bank & Trust raised its position in PJT Partners by 1.6% in the 1st quarter. First Bank & Trust now owns 5,186 shares of the financial services provider's stock worth $715,000 after purchasing an additional 80 shares during the last quarter. Crestwood Advisors Group LLC raised its position in PJT Partners by 0.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 14,314 shares of the financial services provider's stock worth $1,974,000 after purchasing an additional 83 shares during the last quarter. Xponance Inc. raised its position in PJT Partners by 5.4% in the 1st quarter. Xponance Inc. now owns 1,749 shares of the financial services provider's stock worth $241,000 after purchasing an additional 90 shares during the last quarter. NDVR Inc. grew its holdings in PJT Partners by 6.0% during the 4th quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock worth $324,000 after acquiring an additional 116 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of PJT Partners by 33.4% during the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at $88,445. This represents a 75.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kievdi Don Cornwell sold 10,403 shares of the 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 owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,792 shares of company stock worth $3,686,825 in the last three months. Insiders own 11.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on PJT shares. Keefe, Bruyette & Woods upped their target price on shares of PJT Partners from $161.00 to $199.00 and gave the company 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 report on Thursday, July 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $174.67.

PJT Partners Trading Down 1.4%

Shares of PJT Partners stock traded down $2.57 during trading hours on Tuesday, reaching $175.78. 135,328 shares of the company's stock were exchanged, compared to its average volume of 278,272. The company has a 50 day moving average of $172.54 and a two-hundred day moving average of $156.45. PJT Partners Inc. has a fifty-two week low of $116.07 and a fifty-two week high of $190.27. The stock has a market cap of $4.27 billion, a P/E ratio of 30.20 and a beta of 0.77.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The company had revenue of $731.09 billion during the quarter, compared to the consensus estimate of $343.11 million. During the same period in the prior year, the business posted $1.19 EPS. The company's quarterly revenue was up 13.0% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio is currently 17.18%.

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.