Wellington Management Group LLP Sells 78,324 Shares of PJT Partners Inc. (NYSE:PJT)

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

A number of other hedge funds also recently modified their holdings of PJT. Commonwealth Equity Services LLC increased its position in PJT Partners by 53.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock worth $910,000 after acquiring an additional 2,012 shares during the period. Renaissance Technologies LLC bought a new position in PJT Partners during the fourth quarter worth about $316,000. Norges Bank bought a new position in PJT Partners during the fourth quarter worth about $20,269,000. Principal Financial Group Inc. increased its position in PJT Partners by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock worth $22,083,000 after acquiring an additional 5,644 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PJT Partners by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock worth $40,283,000 after acquiring an additional 3,173 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

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

PJT Partners Price Performance

NYSE:PJT traded down $0.11 during mid-day trading on Friday, reaching $150.77. The stock had a trading volume of 349,763 shares, compared to its average volume of 245,464. The stock has a 50-day simple moving average of $139.59 and a two-hundred day simple moving average of $152.57. The stock has a market capitalization of $3.68 billion, a PE ratio of 30.77 and a beta of 0.76. PJT Partners Inc. has a 12 month low of $99.77 and a 12 month high of $190.28.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.11. The business had revenue of $324.50 million for the quarter, compared to analysts' expectations of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Equities analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. PJT Partners's dividend payout ratio (DPR) is 17.64%.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel now owns 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kievdi Don Cornwell sold 9,597 shares of the business's stock in a transaction on 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 sale, the director now directly owns 19,250 shares in the company, valued at approximately $2,908,290. The trade was a 33.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock valued at $3,722,082 over the last three months. 11.75% of the stock is owned by insiders.

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.