US Bancorp DE Sells 1,815 Shares of 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 cut its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 SEC filing.

A number of other large investors have also modified their holdings of PJT. Tidal Investments LLC bought a new stake in PJT Partners in the fourth quarter valued at $20,059,000. GAMMA Investing LLC grew its holdings in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after purchasing an additional 81,593 shares during the last quarter. Congress Asset Management Co. lifted its stake in shares of PJT Partners by 19.7% during the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after acquiring an additional 79,894 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of PJT Partners by 52.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after acquiring an additional 58,656 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of PJT Partners during the fourth quarter valued at $5,351,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PJT has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $174.67.

Insider Activity

In related news, Director Grace Reksten Skaugen sold 1,504 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total transaction of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at $88,445. The trade was a 75.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 23,792 shares of company stock worth $3,686,825. Insiders own 11.75% of the company's stock.

PJT Partners Stock Performance

NYSE:PJT traded down $2.2130 during mid-day trading on Tuesday, hitting $176.1370. 68,178 shares of the stock were exchanged, compared to its average volume of 277,831. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 30.26 and a beta of 0.77. The firm's 50-day simple moving average is $172.54 and its 200 day simple moving average is $156.45. PJT Partners Inc. has a fifty-two week low of $116.07 and a fifty-two week high of $190.27.

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

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

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.