Frontier Capital Management Co. LLC Sells 35,378 Shares of PJT Partners Inc. (NYSE:PJT)

Frontier Capital Management Co. LLC trimmed its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,181 shares of the financial services provider's stock after selling 35,378 shares during the period. Frontier Capital Management Co. LLC owned 0.65% of PJT Partners worth $24,489,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Principal Securities Inc. increased its stake in PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of 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 in the last quarter. GAMMA Investing LLC increased its position in shares of PJT Partners by 32.3% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 109 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of PJT Partners by 51.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 176 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of PJT Partners by 25.4% during the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock valued at $159,000 after buying an additional 204 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on PJT. Citizens Jmp cut shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research note on Wednesday, February 5th. Finally, JMP Securities lowered shares of PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $158.50.

Insiders Place Their Bets

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the sale, the general counsel now owns 2,288 shares of the company's stock, valued at $324,301.12. This trade represents a 68.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.71% of the company's stock.

PJT Partners Stock Performance

Shares of PJT stock traded down $2.02 on Friday, hitting $144.50. 189,363 shares of the company's stock traded hands, compared to its average volume of 243,415. PJT Partners Inc. has a one year low of $99.42 and a one year high of $190.28. The company's fifty day simple moving average is $137.97 and its 200 day simple moving average is $152.45. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 29.49 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, beating 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 company had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. During the same quarter last year, the firm earned $0.98 EPS. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is presently 17.64%.

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.