PJT Partners Inc. (NYSE:PJT) Director Kievdi Don Cornwell Sells 10,403 Shares

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 stock was sold at an average price of $150.29, for a total value of $1,563,466.87. Following the transaction, the director now owns 8,847 shares in the company, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,449,914.76.

PJT Partners Stock Up 1.0%

Shares of PJT traded up $1.52 during mid-day trading on Tuesday, reaching $151.73. The company had a trading volume of 113,487 shares, compared to its average volume of 245,234. PJT Partners Inc. has a 52-week low of $99.77 and a 52-week high of $190.28. The stock has a market capitalization of $3.71 billion, a P/E ratio of 30.97 and a beta of 0.76. The stock has a 50 day moving average of $139.94 and a two-hundred day moving average of $152.43.

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

PJT Partners Dividend Announcement

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 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 dividend yield of 0.66%. PJT Partners's payout ratio is 17.64%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their price target on 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 research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus target price of $154.50.

Institutional Trading of PJT Partners

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new position in PJT Partners in the 1st quarter worth about $30,000. Principal Securities Inc. raised its holdings in PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after purchasing an additional 158 shares during the period. Opal Wealth Advisors LLC acquired a new position in PJT Partners in the 1st quarter worth about $39,000. CIBC Private Wealth Group LLC raised its holdings in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after purchasing an additional 146 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in PJT Partners in the 1st quarter worth about $45,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

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.