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Wellington Management Group LLP Decreases Stock Holdings in PJT Partners Inc. (NYSE:PJT)

PJT Partners logo with Finance background

Wellington Management Group LLP trimmed its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 561,515 shares of the financial services provider's stock after selling 78,324 shares during the period. Wellington Management Group LLP owned 2.41% of PJT Partners worth $88,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its stake in PJT Partners by 53.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock valued at $910,000 after acquiring an additional 2,012 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in PJT Partners in the 4th quarter valued at about $316,000. Norges Bank acquired a new stake in PJT Partners in the 4th quarter valued at about $20,269,000. Principal Financial Group Inc. boosted its stake in shares of PJT Partners by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock worth $22,083,000 after purchasing an additional 5,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of PJT Partners by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock worth $40,283,000 after purchasing an additional 3,173 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their price target 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 investment 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.

View Our Latest Stock Analysis on PJT

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of the 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 now directly owns 2,288 shares in the company, valued at $324,301.12. This represents a 68.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kievdi Don Cornwell sold 9,597 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $151.08, for a total transaction of $1,449,914.76. Following the transaction, the director now owns 19,250 shares in the company, valued at approximately $2,908,290. The trade was a 33.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,000 shares of company stock worth $3,722,082 in the last three months. Company insiders own 11.75% of the company's stock.

PJT Partners Trading Down 0.2%

Shares of PJT Partners stock traded down $0.35 during mid-day trading on Monday, hitting $150.32. 244,147 shares of the stock were exchanged, compared to its average volume of 245,656. PJT Partners Inc. has a twelve month low of $99.77 and a twelve month high of $190.28. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 30.68 and a beta of 0.76. The company has a 50-day simple moving average of $139.70 and a 200 day simple moving average of $152.43.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.11. The business had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company's revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. Equities research analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.67%. PJT Partners's payout ratio is currently 17.64%.

PJT Partners Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PJT Partners (NYSE:PJT)

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