Principal Financial Group Inc. Has $19.80 Million Stake in PJT Partners Inc. (NYSE:PJT)

Principal Financial Group Inc. increased its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 2.6% in the first quarter, according to 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 purchasing an additional 3,645 shares during the period. Principal Financial Group Inc. owned approximately 0.62% of PJT Partners worth $19,797,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc bought a new position in PJT Partners in the 1st quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the first quarter valued at about $39,000. CIBC Private Wealth Group LLC grew its position 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 valued at $44,000 after purchasing an additional 146 shares during the last quarter. 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 lifted its position in shares of PJT Partners by 33.4% during 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. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Trading Up 2.4%

PJT traded up $4.21 on Monday, hitting $180.11. 268,780 shares of the stock traded hands, compared to its average volume of 247,696. The business has a fifty day moving average price of $155.67 and a two-hundred day moving average price of $152.49. The firm has a market capitalization of $4.40 billion, a PE ratio of 31.77 and a beta of 0.76. PJT Partners Inc. has a 52 week low of $114.19 and a 52 week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. The business had revenue of $324.50 million for the quarter, compared to analysts' expectations of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. PJT Partners's quarterly revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. On average, equities research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Wednesday, June 4th. PJT Partners's dividend payout ratio is 17.64%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PJT. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a report on Thursday. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research report on Monday. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $164.00.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel directly owned 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kievdi Don Cornwell sold 10,403 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total value of $1,563,466.87. Following the completion of the sale, the director owned 8,847 shares in the company, valued at approximately $1,329,615.63. This represents a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock valued at $3,722,082 over the last ninety days. 11.75% of the stock is owned by insiders.

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.