Renaissance Technologies LLC Takes $316,000 Position in PJT Partners Inc. (NYSE:PJT)

Renaissance Technologies LLC purchased a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,000 shares of the financial services provider's stock, valued at approximately $316,000.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. lifted its stake in PJT Partners by 385.4% during the fourth 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 last quarter. CIBC Private Wealth Group LLC lifted its position in shares of PJT Partners by 112.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after buying an additional 146 shares during the last quarter. GAMMA Investing LLC boosted its stake in PJT Partners by 32.3% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock valued at $70,000 after buying an additional 109 shares in the last quarter. PNC Financial Services Group Inc. grew its position in PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 176 shares during the last quarter. Finally, KBC Group NV grew its position in PJT Partners by 25.4% in the fourth quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock valued at $159,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the transaction, the general counsel now owns 2,288 shares in the company, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PJT shares. JMP Securities downgraded shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on shares of PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, PJT Partners presently has an average rating of "Hold" and an average target price of $158.50.

PJT Partners Stock Performance

Shares of PJT Partners stock traded down $2.02 on Friday, hitting $144.50. The stock had a trading volume of 189,363 shares, compared to its average volume of 243,415. The stock has a 50 day moving average of $137.97 and a 200 day moving average of $152.45. The firm has a market capitalization of $3.37 billion, a P/E ratio of 29.49 and a beta of 0.76. PJT Partners Inc. has a twelve month low of $99.42 and a twelve month high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $361.26 million. During the same period in the previous year, the firm posted $0.98 EPS. The company's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. PJT Partners's dividend payout ratio is 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.