US Bancorp DE Reduces Stake in PJT Partners Inc. $PJT

Key Points

• US Bancorp DE reduced its stake in PJT Partners by 55.6%, now holding only 1,449 shares valued at approximately $200,000.
• Insider transactions revealed that Directors sold a total of 23,792 shares in the past three months, signaling a significant decrease in their ownership.
• PJT Partners has announced a quarterly dividend of $0.25 per share, which will be paid on September 17th, reflecting an annualized yield of 0.6%.

US Bancorp DE trimmed its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 55.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,449 shares of the financial services provider's stock after selling 1,815 shares during the quarter. US Bancorp DE's holdings in PJT Partners were worth $200,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vestcor Inc increased its position in shares of PJT Partners by 54.2% during the first quarter. Vestcor Inc now owns 5,630 shares of the financial services provider's stock worth $776,000 after purchasing an additional 1,980 shares in the last quarter. XTX Topco Ltd boosted its stake in PJT Partners by 136.0% during the first quarter. XTX Topco Ltd now owns 3,713 shares of the financial services provider's stock worth $512,000 after buying an additional 2,140 shares during the last quarter. Corton Capital Inc. acquired a new position in PJT Partners during the first quarter worth $203,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PJT Partners by 4.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,223 shares of the financial services provider's stock worth $858,000 after buying an additional 275 shares during the last quarter. Finally, Westover Capital Advisors LLC boosted its stake in PJT Partners by 61.1% during the first quarter. Westover Capital Advisors LLC now owns 2,797 shares of the financial services provider's stock worth $386,000 after buying an additional 1,061 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of PJT stock traded up $0.57 on Wednesday, hitting $176.71. The stock had a trading volume of 165,505 shares, compared to its average volume of 249,501. The firm has a market capitalization of $4.30 billion, a P/E ratio of 30.36 and a beta of 0.77. PJT Partners Inc. has a 1 year low of $116.07 and a 1 year high of $190.27. The company's 50 day moving average price is $173.41 and its 200-day moving average price is $156.72.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.18. The firm had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 EPS. On average, equities analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners's dividend payout ratio is 17.18%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PJT. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $174.67.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the company'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 sale, the director owned 8,847 shares in the company, valued at $1,329,615.63. This represents a 54.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total value of $407,401.28. The disclosure for this sale can be found here. Insiders have sold a total of 23,792 shares of company stock worth $3,686,825 in the last quarter. 11.75% of the stock is owned by company insiders.

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.