Insider Selling: PJT Partners Inc. (NYSE:PJT) Director Sells 10,403 Shares of Stock

PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the transaction, the director now owns 8,847 shares of the company's stock, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Kievdi Don Cornwell also recently made the following trade(s):

• On Thursday, May 29th, Kievdi Don Cornwell sold 9,597 shares of PJT Partners stock. The stock was sold at an average price of $151.08, for a total transaction of $1,449,914.76.

PJT Partners Stock Performance

PJT stock traded down $0.11 during trading on Friday, hitting $150.77. 349,763 shares of the company traded hands, compared to its average volume of 245,662. The company has a 50-day moving average of $139.59 and a 200-day moving average of $152.53. PJT Partners Inc. has a 1 year low of $99.77 and a 1 year high of $190.28. The firm has a market capitalization of $3.68 billion, a PE ratio of 30.77 and a beta of 0.76.

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

PJT Partners Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Trading of PJT Partners

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC raised its position in PJT Partners by 53.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock valued at $910,000 after purchasing an additional 2,012 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of PJT Partners during the fourth quarter valued at approximately $316,000. Norges Bank bought a new position in shares of PJT Partners during the fourth quarter valued at approximately $20,269,000. Principal Financial Group Inc. raised its holdings in shares of 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 valued at $22,083,000 after acquiring an additional 5,644 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of 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 valued at $40,283,000 after acquiring an additional 3,173 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

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.