Vanguard Group Inc. Trims Position in PJT Partners Inc. $PJT

Key Points

• Vanguard Group Inc. trimmed its stake in PJT Partners by 0.9% in Q4, selling 22,865 shares and now owns 2,490,098 shares (about 10.24% of the company) valued at $416.3 million.
• PJT beat expectations for the quarter with EPS of $1.54 vs. $1.51 expected and revenue of $418.2M vs. $409.4M, with revenue up 28.9% year‑over‑year and a 32% return on equity.
• The firm declared a quarterly dividend of $0.25 (annualized $1.00, yield 0.7%), with record date/ex‑dividend on June 3 and payment on June 17.

Vanguard Group Inc. lessened its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,490,098 shares of the financial services provider's stock after selling 22,865 shares during the period. Vanguard Group Inc. owned 10.24% of PJT Partners worth $416,344,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PJT. EFG Asset Management North America Corp. purchased a new stake in PJT Partners in the 3rd quarter valued at about $1,256,000. Mutual of America Capital Management LLC raised its holdings in PJT Partners by 19.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider's stock valued at $13,920,000 after buying an additional 12,537 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in PJT Partners by 17.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider's stock valued at $37,015,000 after buying an additional 31,594 shares during the period. JPMorgan Chase & Co. raised its holdings in PJT Partners by 28.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider's stock valued at $19,631,000 after buying an additional 24,502 shares during the period. Finally, Azora Capital LP purchased a new stake in PJT Partners in the 3rd quarter valued at about $40,061,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Stock Down 0.1%

Shares of PJT opened at $151.79 on Thursday. The stock has a 50 day moving average price of $145.42 and a 200 day moving average price of $161.61. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 22.13 and a beta of 0.86. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The firm's quarterly revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. On average, equities analysts anticipate that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners's dividend payout ratio is 14.58%.

Insiders Place Their Bets

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the business's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the sale, the chief financial officer owned 58,466 shares in the company, valued at approximately $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.75% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PJT. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Wednesday, April 1st. Keefe, Bruyette & Woods boosted their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. UBS Group boosted their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of PJT Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $173.33.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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