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Grace Reksten Skaugen Sells 1,504 Shares of PJT Partners Inc. (NYSE:PJT) Stock

PJT Partners logo with Finance background

Key Points

  • Grace Reksten Skaugen, a Director at PJT Partners Inc., sold 1,504 shares of the company’s stock for a total of $266,042.56, significantly reducing her ownership by 75.05%.
  • PJT Partners recently announced a quarterly dividend of $0.25 per share, with an annualized payout of $1.00 and a dividend yield of 0.6%.
  • The company reported a 13.0% increase in revenue year-over-year, with earnings per share of $1.54, surpassing analysts' expectations of $1.36.
  • Want stock alerts on PJT Partners? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the transaction, the director owned 500 shares in the company, valued at $88,445. The trade was a 75.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

PJT Partners Stock Performance

PJT stock traded up $4.68 on Tuesday, reaching $182.32. The company's stock had a trading volume of 120,781 shares, compared to its average volume of 280,327. The business has a fifty day simple moving average of $169.56 and a two-hundred day simple moving average of $155.81. PJT Partners Inc. has a 12-month low of $116.07 and a 12-month high of $190.27. The firm has a market cap of $4.43 billion, a PE ratio of 31.35 and a beta of 0.77.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.36 by $0.18. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%. The company had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same quarter last year, the firm posted $1.19 earnings per share. The firm's revenue was up 13.0% on a year-over-year basis. As a group, research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 0.5%. PJT Partners's dividend payout ratio (DPR) is currently 17.18%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PJT. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, PJT Partners currently has a consensus rating of "Hold" and a consensus target price of $174.67.

Read Our Latest Report on PJT Partners

Hedge Funds Weigh In On PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. FMR LLC raised its position in shares of 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 during the last quarter. Tidal Investments LLC purchased a new position in shares of PJT Partners in the 4th quarter worth about $20,059,000. Nuveen LLC purchased a new position in shares of PJT Partners in the 1st quarter worth about $12,587,000. GAMMA Investing LLC raised its position in shares of PJT Partners by 18,294.4% in the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after purchasing an additional 81,593 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of PJT Partners by 39.5% in the 4th quarter. Invesco Ltd. now owns 287,935 shares of the financial services provider's stock worth $45,439,000 after purchasing an additional 81,514 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

About PJT Partners

(Get Free Report)

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.

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