Envestnet Asset Management Inc. cut its position in PJT Partners Inc. (NYSE:PJT) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 22,116 shares of the financial services provider’s stock after selling 1,007 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of PJT Partners worth $1,579,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in shares of PJT Partners by 5.2% in the first quarter. BlackRock Inc. now owns 1,773,013 shares of the financial services provider’s stock valued at $119,945,000 after purchasing an additional 87,937 shares during the period. TimesSquare Capital Management LLC boosted its stake in shares of PJT Partners by 146.7% in the first quarter. TimesSquare Capital Management LLC now owns 538,700 shares of the financial services provider’s stock worth $36,443,000 after buying an additional 320,300 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PJT Partners by 9.2% in the first quarter. Geode Capital Management LLC now owns 406,970 shares of the financial services provider’s stock worth $27,531,000 after buying an additional 34,157 shares during the last quarter. Redwood Investments LLC boosted its stake in shares of PJT Partners by 58.0% in the first quarter. Redwood Investments LLC now owns 284,466 shares of the financial services provider’s stock worth $19,244,000 after buying an additional 104,456 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its stake in shares of PJT Partners by 15.2% in the first quarter. Grandeur Peak Global Advisors LLC now owns 209,076 shares of the financial services provider’s stock worth $14,144,000 after buying an additional 27,518 shares during the last quarter. 66.91% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. JMP Securities upped their target price on PJT Partners from $96.00 to $98.00 and gave the stock a “market outperform” rating in a research note on Friday, July 30th. Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, September 14th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $90.00.
PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Thursday, July 29th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.12. The company had revenue of $240.68 million for the quarter, compared to the consensus estimate of $220.64 million. PJT Partners had a return on equity of 29.98% and a net margin of 11.89%. Equities research analysts anticipate that PJT Partners Inc. will post 4.87 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Monday, October 18th. Shareholders of record on Monday, October 4th will be given a dividend of $3.00 per share. The ex-dividend date is Friday, October 1st. PJT Partners’s dividend payout ratio is currently 4.06%.
About PJT Partners
PJT Partners, Inc is a holding company, which engages in the provision of advisory-investment solutions. It specializes in strategic advisory, shareholder engagement, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments.
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