Klingman & Associates LLC Cuts Stock Position in PJT Partners Inc. (NYSE:PJT)

Klingman & Associates LLC cut its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 54.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 149,302 shares of the financial services provider's stock after selling 178,258 shares during the quarter. PJT Partners comprises 1.1% of Klingman & Associates LLC's portfolio, making the stock its 25th biggest holding. Klingman & Associates LLC owned 0.62% of PJT Partners worth $15,209,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its stake in PJT Partners by 133.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 246 shares during the period. Fortis Capital Advisors LLC bought a new stake in PJT Partners in the 1st quarter valued at $29,000. Belpointe Asset Management LLC boosted its stake in PJT Partners by 423.3% in the 1st quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 381 shares during the period. Global Retirement Partners LLC boosted its stake in PJT Partners by 61.4% in the 3rd quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 254 shares during the period. Finally, Quantbot Technologies LP bought a new stake in PJT Partners in the 2nd quarter valued at $61,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on PJT. The Goldman Sachs Group restated a "neutral" rating and issued a $99.00 price target (down from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. Wolfe Research restated an "underperform" rating and issued a $89.00 price target on shares of PJT Partners in a research note on Wednesday, January 3rd. JMP Securities reiterated a "market outperform" rating and set a $110.00 target price on shares of PJT Partners in a research report on Tuesday. Finally, UBS Group reiterated a "sell" rating and set a $75.00 target price (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $93.25.

PJT Partners Stock Down 3.1 %

Shares of NYSE:PJT traded down $2.93 during trading on Friday, reaching $93.02. 315,922 shares of the company traded hands, compared to its average volume of 273,679. PJT Partners Inc. has a 52 week low of $59.61 and a 52 week high of $107.35. The firm has a market capitalization of $2.23 billion, a PE ratio of 30.20 and a beta of 0.68. The company's 50 day moving average is $98.24 and its two-hundred day moving average is $92.10.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The business had revenue of $328.60 million during the quarter, compared to the consensus estimate of $304.26 million. During the same period in the prior year, the company earned $1.08 EPS. PJT Partners's revenue for the quarter was up 17.4% on a year-over-year basis. As a group, research analysts anticipate that PJT Partners Inc. will post 3.85 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.08%. PJT Partners's dividend payout ratio is currently 32.47%.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the transaction, the general counsel now owns 1,541 shares of the company's stock, valued at approximately $143,636.61. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the transaction, the insider now owns 73,421 shares of the company's stock, valued at approximately $7,678,368.18. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now directly owns 1,541 shares of the company's stock, valued at approximately $143,636.61. The disclosure for this sale can be found here. Insiders sold a total of 27,926 shares of company stock worth $2,875,672 in the last ninety days. 10.67% of the stock is owned by insiders.

About PJT Partners

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.