Principal Financial Group Inc. Acquires 3,645 Shares of PJT Partners Inc. (NYSE:PJT)

Principal Financial Group Inc. increased its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,579 shares of the financial services provider's stock after acquiring an additional 3,645 shares during the period. Principal Financial Group Inc. owned about 0.62% of PJT Partners worth $19,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PJT. Versant Capital Management Inc bought a new position in shares of PJT Partners in the first quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners in the first quarter worth about $39,000. CIBC Private Wealth Group LLC increased its stake in shares of 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 worth $44,000 after purchasing an additional 146 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock worth $82,000 after purchasing an additional 176 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of PJT Partners by 33.4% in the first 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 period. Institutional investors own 89.23% of the company's stock.

PJT Partners Trading Down 1.7%

Shares of PJT traded down $3.13 on Friday, reaching $175.50. 270,846 shares of the company's stock were exchanged, compared to its average volume of 246,977. The stock has a market capitalization of $4.29 billion, a P/E ratio of 30.95 and a beta of 0.76. The business has a 50 day moving average price of $155.67 and a two-hundred day moving average price of $152.59. PJT Partners Inc. has a 12 month low of $110.95 and a 12 month high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last issued its 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. PJT Partners had a net margin of 10.47% and a return on equity of 23.81%. The firm had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The business's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. PJT Partners's dividend payout ratio (DPR) is currently 17.64%.

Insider Activity

In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the sale, the general counsel owned 2,288 shares of the company's stock, valued at $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction 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 sale, the director directly owned 8,847 shares of the company's stock, valued at $1,329,615.63. This represents a 54.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $3,722,082 over the last 90 days. 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 note on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus price target of $154.50.

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.