Deutsche Bank AG Sells 1,914 Shares of PJT Partners Inc. $PJT

Key Points

• Deutsche Bank AG reduced its stake in PJT Partners by 4.2% during the 1st quarter, retaining 43,418 shares valued at approximately $5.99 million.
• PJT Partners reported Q2 earnings of $1.54 per share, exceeding estimates, with a revenue of $731.09 million, indicating a 13% increase year-over-year.
• The company announced a quarterly dividend of $0.25 per share, scheduled for payment on September 17th, representing a 0.6% yield.

Deutsche Bank AG lowered its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,418 shares of the financial services provider's stock after selling 1,914 shares during the quarter. Deutsche Bank AG owned approximately 0.19% of PJT Partners worth $5,986,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Tidal Investments LLC purchased a new position in PJT Partners during the 4th quarter valued at approximately $20,059,000. GAMMA Investing LLC grew its holdings in PJT Partners by 18,294.4% during the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock valued at $11,312,000 after buying an additional 81,593 shares in the last quarter. Congress Asset Management Co. grew its holdings in PJT Partners by 19.7% during the 1st quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after buying an additional 79,894 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in PJT Partners by 52.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after buying an additional 58,656 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in PJT Partners during the 4th quarter valued at approximately $5,351,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In related news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction that occurred 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director directly owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,792 shares of company stock valued at $3,686,825 in the last ninety days. Insiders own 11.75% of the company's stock.

PJT Partners Price Performance

Shares of NYSE:PJT traded down $1.5460 during trading on Thursday, hitting $175.2040. The company had a trading volume of 96,915 shares, compared to its average volume of 251,187. The stock has a market cap of $4.26 billion, a price-to-earnings ratio of 30.10 and a beta of 0.77. PJT Partners Inc. has a one year low of $116.07 and a one year high of $190.27. The company has a fifty day simple moving average of $173.77 and a two-hundred day simple moving average of $156.79.

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

PJT Partners Announces Dividend

The business 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 $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

Analysts Set New Price Targets

Several equities analysts have weighed in on PJT shares. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $174.67.

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.