PJT Partners Inc. (NYSE:PJT) Stock Holdings Lessened by abrdn plc

abrdn plc lowered its holdings in PJT Partners Inc. (NYSE:PJT) by 55.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 174,424 shares of the financial services provider’s stock after selling 217,864 shares during the period. abrdn plc owned about 0.72% of PJT Partners worth $17,769,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its holdings in shares of PJT Partners by 61.4% during the third quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 254 shares during the period. Cerity Partners LLC acquired a new position in PJT Partners during the 4th quarter valued at about $219,000. Everence Capital Management Inc. bought a new position in PJT Partners in the 4th quarter worth about $222,000. Amplius Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the fourth quarter valued at approximately $247,000. Finally, Account Management LLC bought a new stake in shares of PJT Partners during the third quarter valued at approximately $202,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the sale, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Helen T. Meates sold 12,926 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the transaction, the chief financial officer now owns 48,821 shares of the company’s stock, valued at approximately $5,151,103.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares in the company, valued at $143,636.61. The disclosure for this sale can be found here. Insiders sold a total of 27,926 shares of company stock valued at $2,875,672 over the last three months. Insiders own 10.67% of the company’s stock.

PJT Partners Trading Up 0.1 %

Shares of NYSE PJT opened at $95.94 on Thursday. The firm has a 50-day moving average of $97.59 and a two-hundred day moving average of $93.03. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 31.15 and a beta of 0.68. PJT Partners Inc. has a twelve month low of $59.61 and a twelve month high of $107.35.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.20. The firm had revenue of $328.60 million during the quarter, compared to analysts’ expectations of $304.26 million. PJT Partners had a net margin of 7.09% and a return on equity of 17.44%. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. As a group, research analysts predict that PJT Partners Inc. will post 3.85 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend was Tuesday, March 5th. PJT Partners’s dividend payout ratio is 32.47%.

Wall Street Analyst Weigh In

PJT has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and issued a $110.00 target price on shares of PJT Partners in a research report on Tuesday, April 9th. The Goldman Sachs Group reissued a “neutral” rating and set a $99.00 price target (down from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. UBS Group reaffirmed a “sell” rating and issued a $75.00 price objective (down previously from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Finally, Wolfe Research reissued an “underperform” rating and set a $89.00 target price on shares of PJT Partners in a research note on Wednesday, January 3rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, PJT Partners currently has an average rating of “Hold” and an average target price of $93.25.

About PJT Partners

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.