Vanguard Group Inc. Sells 9,127 Shares of 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. lowered its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 0.4% in the 1st quarter, according to its most recent disclosure with the 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 about 10.76% of PJT Partners worth $345,592,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Versant Capital Management Inc bought a new position in shares of PJT Partners during the first quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners during the first quarter valued at $39,000. Morse Asset Management Inc raised its stake in shares of PJT Partners by 1,640.0% during the first quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 410 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of PJT Partners by 33.4% during the first 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. Finally, PNC Financial Services Group Inc. raised its stake in shares of PJT Partners by 72.5% during the first quarter. PNC Financial Services Group Inc. now owns 892 shares of the financial services provider's stock valued at $123,000 after acquiring an additional 375 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PJT Partners currently has a consensus rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Price Performance

NYSE PJT traded down $1.5460 during mid-day trading on Thursday, reaching $175.2040. 96,915 shares of the stock were exchanged, compared to its average volume of 251,187. PJT Partners Inc. has a one year low of $116.07 and a one year high of $190.27. The stock has a 50 day simple moving average of $173.77 and a 200-day simple moving average of $156.79. The stock has a market cap of $4.26 billion, a P/E ratio of 30.10 and a beta of 0.77.

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

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

Insider Activity

In other news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners 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 trade represents a 75.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the business'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 owned 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 disclosure for this sale can be found here. Insiders sold 23,792 shares of company stock worth $3,686,825 over the last three months. 11.75% of the stock is currently owned by insiders.

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.