Ameriprise Financial Inc. Sells 35,044 Shares of PJT Partners Inc. (NYSE:PJT)

Ameriprise Financial Inc. lowered its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 37.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 59,720 shares of the financial services provider's stock after selling 35,044 shares during the quarter. Ameriprise Financial Inc. owned about 0.25% of PJT Partners worth $9,424,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Sanctuary Advisors LLC grew its stake in shares of PJT Partners by 2.9% in the fourth quarter. Sanctuary Advisors LLC now owns 2,274 shares of the financial services provider's stock valued at $375,000 after buying an additional 65 shares in the last quarter. Xponance Inc. boosted its holdings in PJT Partners by 7.4% in the fourth quarter. Xponance Inc. now owns 1,659 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 115 shares during the last quarter. Atria Investments Inc boosted its holdings in PJT Partners by 5.0% in the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock valued at $425,000 after purchasing an additional 129 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 158 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel now directly owns 2,288 shares in the company, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods increased their price target on PJT Partners from $152.00 to $161.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $154.50.

PJT Partners Stock Down 1.0%

NYSE:PJT traded down $1.45 during trading hours on Monday, reaching $146.38. 218,409 shares of the stock were exchanged, compared to its average volume of 245,643. The firm has a 50 day simple moving average of $139.15 and a 200-day simple moving average of $152.71. PJT Partners Inc. has a 52 week low of $99.77 and a 52 week high of $190.28. The stock has a market capitalization of $3.58 billion, a P/E ratio of 29.87 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. As a group, analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is 17.64%.

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.