PJT Partners (NYSE:PJT) Director Grace Reksten Skaugen Sells 1,283 Shares of Stock

Key Points

• Director Grace Reksten Skaugen sold 1,283 PJT Partners shares at an average price of $167.67, generating $215,120.61. The transaction reduced her direct ownership by 71.96% to 500 shares.
• PJT Partners reported strong quarterly results, with earnings of $1.97 per share beating estimates by $0.40 and revenue of $486.29 million, up 19.5% year over year.
• The company declared a quarterly dividend of $0.25 per share, while analysts maintain a consensus “Hold” rating and an average price target of $179.33.

PJT Partners Inc. (NYSE:PJT - Get Free Report) Director Grace Reksten Skaugen sold 1,283 shares of PJT Partners stock in a transaction on Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the completion of the sale, the director directly owned 500 shares of the company's stock, valued at $83,835. This trade represents a 71.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PJT Partners Trading Up 0.3%

Shares of PJT traded up $0.48 during trading hours on Friday, hitting $168.03. 367,386 shares of the stock traded hands, compared to its average volume of 389,432. The business has a fifty day moving average of $159.30 and a 200-day moving average of $156.35. The firm has a market capitalization of $4.34 billion, a PE ratio of 22.99 and a beta of 0.85. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.88% and a net margin of 10.57%.The firm had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same period last year, the company earned $1.54 earnings per share. The company's revenue was up 19.5% on a year-over-year basis. As a group, equities research analysts expect that PJT Partners Inc. will post 8 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is 13.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Royal Bank of Canada raised its position in shares of PJT Partners by 45.7% during the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider's stock worth $1,581,000 after purchasing an additional 3,596 shares during the period. AQR Capital Management LLC increased its stake in PJT Partners by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider's stock worth $1,011,000 after purchasing an additional 2,681 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PJT Partners by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider's stock worth $1,915,000 after purchasing an additional 620 shares in the last quarter. Millennium Management LLC raised its holdings in PJT Partners by 1,394.5% during the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider's stock worth $7,247,000 after buying an additional 49,046 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in PJT Partners by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider's stock worth $51,090,000 after buying an additional 19,806 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on PJT shares. UBS Group reaffirmed a "neutral" rating and issued a $176.00 price target on shares of PJT Partners in a research note on Wednesday. Keefe, Bruyette & Woods lifted their price objective on shares of PJT Partners from $185.00 to $195.00 and gave the stock an "outperform" rating in a research note on Wednesday. Weiss Ratings restated a "hold (c)" rating on shares of PJT Partners in a report on Friday, May 29th. Finally, Zacks Research raised shares of PJT Partners from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, PJT Partners presently has a consensus rating of "Hold" and an average target price of $179.33.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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