Teacher Retirement System of Texas Has $2.62 Million Stock Position in PJT Partners Inc. (NYSE:PJT)

Teacher Retirement System of Texas decreased its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 35.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,978 shares of the financial services provider's stock after selling 10,624 shares during the period. Teacher Retirement System of Texas owned about 0.08% of PJT Partners worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Versant Capital Management Inc bought a new position in shares of PJT Partners during the first quarter valued at $30,000. Opal Wealth Advisors LLC bought a new position in PJT Partners during the first quarter worth $39,000. CIBC Private Wealth Group LLC raised its stake 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 worth $44,000 after buying an additional 146 shares during the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $82,000 after buying an additional 176 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in PJT Partners by 33.4% during the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock worth $82,000 after buying an additional 149 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction 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 directly owned 8,847 shares in the company, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners 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 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 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.

PJT Partners Price Performance

NYSE PJT traded down $3.13 during mid-day trading on Friday, reaching $175.50. 270,846 shares of the stock were exchanged, compared to its average volume of 247,611. The stock has a market cap of $4.29 billion, a P/E ratio of 30.95 and a beta of 0.76. The stock has a 50 day simple moving average of $155.67 and a 200-day simple moving average of $152.49. PJT Partners Inc. has a one year low of $114.19 and a one year high of $190.28.

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

PJT Partners Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Wednesday, June 4th. PJT Partners's payout ratio 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.