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 lessened its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 4.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,418 shares of the financial services provider's stock after selling 1,914 shares during the quarter. Deutsche Bank AG owned 0.19% of PJT Partners worth $5,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc bought a new stake in PJT Partners in the 1st quarter valued at $30,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners in the 1st quarter valued at $39,000. Morse Asset Management Inc increased its holdings in PJT Partners by 1,640.0% in the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock valued at $60,000 after buying an additional 410 shares during the period. GAMMA Investing LLC grew its holdings in shares of PJT Partners by 33.4% in the 1st quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock worth $82,000 after purchasing an additional 149 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of PJT Partners by 72.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 892 shares of the financial services provider's stock worth $123,000 after purchasing an additional 375 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PJT. Keefe, Bruyette & Woods upped their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a report on Monday, July 14th. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Reduce" and an average price target of $174.67.

PJT Partners Stock Down 1.4%

NYSE:PJT traded down $2.57 during mid-day trading on Tuesday, reaching $175.78. 135,328 shares of the company were exchanged, compared to its average volume of 278,272. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27. The company has a fifty day moving average of $172.54 and a 200 day moving average of $156.45. The stock has a market cap of $4.27 billion, a PE ratio of 30.20 and a beta of 0.77.

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

PJT Partners Announces Dividend

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

Insiders Place Their Bets

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,504 shares of the 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 sale, the director owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were 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 in the company, valued at $1,329,615.63. This trade represents a 54.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,792 shares of company stock valued at $3,686,825 in the last 90 days. 11.75% of the stock is currently owned by insiders.

PJT Partners Company 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.