PJT Partners Inc. (NYSE:PJT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 37.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 0.25% of PJT Partners worth $9,424,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of PJT Partners during the fourth quarter worth about $89,192,000. FMR LLC raised its stake in shares of PJT Partners by 52.8% during the 4th quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after buying an additional 220,526 shares during the period. Arrowstreet Capital Limited Partnership increased its position in shares of PJT Partners by 658.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock worth $28,628,000 after purchasing an additional 157,483 shares in the last quarter. Norges Bank purchased a new stake in shares of PJT Partners during the fourth quarter worth approximately $20,269,000. Finally, Vanguard Group Inc. grew its holdings in PJT Partners by 5.3% in the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after buying an additional 127,060 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now owns 2,288 shares in the company, valued at $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.75% of the company's stock.

Wall Street Analysts Forecast Growth

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

PJT Partners Trading Down 1.0%

NYSE:PJT traded down $1.45 during mid-day trading on Friday, hitting $146.38. The stock had a trading volume of 218,409 shares, compared to its average volume of 245,552. The stock has a 50-day simple moving average of $139.08 and a two-hundred day simple moving average of $152.92. The company has a market capitalization of $3.58 billion, a PE ratio of 29.87 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $99.77 and a twelve month high of $190.28.

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. The company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. Sell-side analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio is presently 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.