PJT Partners Inc. $PJT Shares Acquired by Geode Capital Management LLC

Key Points

• Geode Capital Management boosted its PJT Partners stake by 2.5% in the fourth quarter, ending with 682,886 shares worth about $114.2 million. Institutional ownership remains high, at 89.23%.
• Two PJT insiders sold shares recently: General Counsel David Adam Travin sold 3,000 shares and CFO Helen T. Meates sold 8,000 shares, both reducing their holdings.
• PJT Partners reported better-than-expected quarterly results, with EPS of $1.54 and revenue of $418.2 million, and also declared a quarterly dividend of $0.25 per share.

Geode Capital Management LLC increased its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 682,886 shares of the financial services provider's stock after acquiring an additional 16,388 shares during the quarter. Geode Capital Management LLC owned approximately 2.81% of PJT Partners worth $114,195,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PJT. Aster Capital Management DIFC Ltd purchased a new position in PJT Partners in the 3rd quarter valued at $33,000. Allworth Financial LP grew its position in PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after buying an additional 133 shares during the last quarter. State of Wyoming purchased a new position in PJT Partners in the 2nd quarter valued at $63,000. Exchange Traded Concepts LLC purchased a new position in PJT Partners in the 4th quarter valued at $86,000. Finally, Quadrant Capital Group LLC purchased a new position in PJT Partners in the 3rd quarter valued at $90,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the company's stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the sale, the general counsel owned 2,052 shares of the company's stock, valued at $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by corporate insiders.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $157.01 on Friday. The firm has a market capitalization of $4.06 billion, a P/E ratio of 22.89 and a beta of 0.85. PJT Partners Inc. has a one year low of $127.73 and a one year high of $195.62. The company's fifty day moving average is $152.52 and its two-hundred day moving average is $159.23.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.51 by $0.03. The company had revenue of $418.20 million for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The business's revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, sell-side analysts forecast that PJT Partners Inc. will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued 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, June 3rd. PJT Partners's dividend payout ratio is 14.58%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PJT. Zacks Research lowered shares of PJT Partners from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective on the stock in a research report on Wednesday, April 1st. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods boosted their target price on shares of PJT Partners from $166.00 to $175.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 29th. Finally, UBS Group boosted their target price on shares of PJT Partners from $152.00 to $160.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $173.33.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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