State of Tennessee Department of Treasury Has $860,000 Position in PJT Partners Inc. (NYSE:PJT)

State of Tennessee Department of Treasury lowered its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,451 shares of the financial services provider's stock after selling 4,778 shares during the quarter. State of Tennessee Department of Treasury's holdings in PJT Partners were worth $860,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock valued at $9,636,000 after acquiring an additional 34,514 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in PJT Partners by 53.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock valued at $910,000 after purchasing an additional 2,012 shares during the period. Norges Bank purchased a new stake in PJT Partners in the 4th quarter valued at approximately $20,269,000. Principal Financial Group Inc. increased its position in PJT Partners by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock worth $22,083,000 after purchasing an additional 5,644 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PJT Partners by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock valued at $40,283,000 after buying an additional 3,173 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Up 0.2 %

Shares of PJT Partners stock traded up $0.27 on Tuesday, hitting $142.81. 257,273 shares of the company's stock traded hands, compared to its average volume of 242,972. The firm's 50-day moving average is $138.87 and its 200 day moving average is $152.45. The stock has a market cap of $3.33 billion, a P/E ratio of 29.14 and a beta of 0.76. PJT Partners Inc. has a 52-week low of $97.74 and a 52-week high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's payout ratio is currently 17.64%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, General Counsel David Adam Travin sold 5,000 shares of the business'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 value of $708,700.00. Following the sale, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. The trade was a 68.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 11.71% of the company's stock.

PJT Partners 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.