PJT Partners Inc. (NYSE:PJT) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lessened its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,978 shares of the financial services provider's stock after selling 10,624 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of PJT Partners worth $2,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PJT. Versant Capital Management Inc acquired a new stake in PJT Partners during the first quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new stake in PJT Partners during the first quarter valued at $39,000. CIBC Private Wealth Group LLC grew its position in PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after buying an additional 146 shares during the period. PNC Financial Services Group Inc. grew its position in PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after buying an additional 176 shares during the period. Finally, GAMMA Investing LLC grew its position in PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock valued at $82,000 after buying an additional 149 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $152.00 to $161.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, PJT Partners has an average rating of "Hold" and an average price target of $154.50.

Insider Activity

In related news, General Counsel David Adam Travin sold 5,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel directly owned 2,288 shares in the company, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction dated 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 transaction, the director owned 8,847 shares in the company, valued at $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,000 shares of company stock worth $3,722,082. Company insiders own 11.75% of the company's stock.

PJT Partners Stock Down 1.4%

Shares of NYSE PJT traded down $2.46 during trading on Friday, hitting $176.17. The company had a trading volume of 84,610 shares, compared to its average volume of 246,248. The stock has a fifty day simple moving average of $155.02 and a two-hundred day simple moving average of $152.48. PJT Partners Inc. has a fifty-two week low of $110.95 and a fifty-two week high of $190.28. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 31.11 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (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 business had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter last year, the business earned $0.98 earnings per share. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.25 dividend. The ex-dividend date of this dividend 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 17.64%.

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.