Bank of New York Mellon Corp Sells 21,041 Shares of PJT Partners Inc. (NYSE:PJT)

Bank of New York Mellon Corp lessened its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 8.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,080 shares of the financial services provider's stock after selling 21,041 shares during the period. Bank of New York Mellon Corp owned 0.99% of PJT Partners worth $31,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc acquired a new stake in PJT Partners in the 1st quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new stake in PJT Partners in the 1st quarter valued at about $39,000. CIBC Private Wealth Group LLC lifted its holdings in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 146 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in PJT Partners by 51.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 176 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in PJT Partners by 33.4% in 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.

PJT Partners Stock Down 0.6%

PJT stock traded down $1.08 during midday trading on Friday, hitting $182.93. 252,051 shares of the company traded hands, compared to its average volume of 249,900. PJT Partners Inc. has a twelve month low of $116.06 and a twelve month high of $190.28. The business has a 50 day simple moving average of $159.50 and a 200-day simple moving average of $153.39. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 32.26 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The company had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. During the same quarter last year, the company posted $0.98 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.55%. PJT Partners's dividend payout ratio (DPR) is currently 17.64%.

Analyst Upgrades and Downgrades

A number of analysts have commented on PJT shares. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $164.00.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel directly owned 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by company 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.