abrdn plc Cuts Position in PJT Partners Inc. (NYSE:PJT)

abrdn plc decreased its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 55.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174,424 shares of the financial services provider's stock after selling 217,864 shares during the period. abrdn plc owned 0.72% of PJT Partners worth $17,769,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC raised its position in shares of PJT Partners by 6.7% in the 3rd quarter. Clearbridge Investments LLC now owns 1,104,971 shares of the financial services provider's stock worth $87,779,000 after acquiring an additional 68,951 shares in the last quarter. Eagle Asset Management Inc. increased its position in PJT Partners by 7.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider's stock valued at $77,032,000 after buying an additional 69,485 shares in the last quarter. FMR LLC increased its position in PJT Partners by 5.9% during the 3rd quarter. FMR LLC now owns 381,964 shares of the financial services provider's stock valued at $30,343,000 after buying an additional 21,392 shares in the last quarter. Schroder Investment Management Group increased its position in PJT Partners by 22.1% during the 3rd quarter. Schroder Investment Management Group now owns 371,730 shares of the financial services provider's stock valued at $29,530,000 after buying an additional 67,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in PJT Partners by 1.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 207,643 shares of the financial services provider's stock valued at $16,495,000 after buying an additional 2,352 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the sale, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the sale, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares in the company, valued at $5,151,103.71. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,926 shares of company stock valued at $2,875,672. Insiders own 10.67% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Wolfe Research reiterated an "underperform" rating and set a $89.00 target price 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 note on Tuesday, April 9th. 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 note on Tuesday, March 26th. Finally, The Goldman Sachs Group reiterated a "neutral" rating and set a $99.00 target price (down from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, PJT Partners currently has an average rating of "Hold" and an average target price of $93.25.

PJT Partners Price Performance

Shares of NYSE PJT traded down $0.64 during mid-day trading on Thursday, reaching $95.30. The company's stock had a trading volume of 307,023 shares, compared to its average volume of 267,038. The firm has a market capitalization of $2.28 billion, a PE ratio of 30.94 and a beta of 0.68. The stock has a fifty day moving average of $97.59 and a two-hundred day moving average of $93.03. PJT Partners Inc. has a 52 week low of $59.61 and a 52 week high of $107.35.

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

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, March 5th. PJT Partners's payout ratio is presently 32.47%.

PJT Partners Company 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.