First Trust Advisors LP Sells 2,779 Shares of PJT Partners Inc. (NYSE:PJT)

First Trust Advisors LP cut its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 3.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,145 shares of the financial services provider's stock after selling 2,779 shares during the quarter. First Trust Advisors LP owned 0.29% of PJT Partners worth $10,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PJT. Vanguard Group Inc. raised its stake in PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after buying an additional 127,060 shares during the last quarter. FMR LLC lifted its holdings in PJT Partners by 52.8% in the 4th quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after purchasing an additional 220,526 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PJT Partners by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider's stock worth $100,273,000 after purchasing an additional 16,233 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PJT Partners in the 4th quarter worth approximately $89,192,000. Finally, Alliancebernstein L.P. lifted its holdings in PJT Partners by 9.8% in the 4th quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider's stock worth $74,914,000 after purchasing an additional 42,463 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on PJT. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Finally, JMP Securities cut PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, Based on data from MarketBeat, PJT Partners presently has an average rating of "Hold" and a consensus price target of $158.50.

PJT Partners Trading Down 1.3 %

Shares of NYSE PJT traded down $1.88 during trading hours on Thursday, hitting $139.84. 424,472 shares of the company traded hands, compared to its average volume of 244,154. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 28.54 and a beta of 0.77. The company's 50 day moving average price is $139.83 and its 200 day moving average price is $152.49. PJT Partners Inc. has a 12 month low of $96.96 and a 12 month high of $190.28.

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

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's dividend payout ratio is currently 20.41%.

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.