New York Life Investment Management LLC Reduces Position in PJT Partners Inc. (NYSE:PJT)

New York Life Investment Management LLC trimmed its position in shares of PJT Partners Inc. (NYSE:PJT) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,785 shares of the financial services provider’s stock after selling 139 shares during the period. New York Life Investment Management LLC’s holdings in PJT Partners were worth $487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in shares of PJT Partners by 65.4% during the fourth quarter. Handelsbanken Fonder AB now owns 4,300 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 1,700 shares during the period. State of Alaska Department of Revenue bought a new position in PJT Partners in the 4th quarter worth about $1,397,000. Dark Forest Capital Management LP increased its position in shares of PJT Partners by 90.2% during the third quarter. Dark Forest Capital Management LP now owns 24,433 shares of the financial services provider’s stock worth $1,941,000 after acquiring an additional 11,589 shares during the period. Schroder Investment Management Group raised its stake in shares of PJT Partners by 22.1% during the third quarter. Schroder Investment Management Group now owns 371,730 shares of the financial services provider’s stock valued at $29,530,000 after acquiring an additional 67,197 shares in the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of PJT Partners in the third quarter valued at approximately $8,676,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the transaction, the insider now directly owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the sale, the insider now owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the sale, the chief financial officer now owns 48,821 shares in the company, valued at approximately $5,151,103.71. The disclosure for this sale can be found here. 10.67% of the stock is currently owned by corporate insiders.

PJT Partners Stock Up 1.0 %

PJT Partners stock opened at $101.29 on Friday. PJT Partners Inc. has a twelve month low of $61.03 and a twelve month high of $107.35. The business has a fifty day moving average of $96.10 and a two-hundred day moving average of $94.63. The firm has a market cap of $2.42 billion, a P/E ratio of 27.90 and a beta of 0.67.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. The company had revenue of $329.39 million for the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The firm’s revenue for the quarter was up 64.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Equities analysts expect that PJT Partners Inc. will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.99%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Analysts Set New Price Targets

PJT has been the subject of a number of research analyst reports. UBS Group reaffirmed a “sell” rating and set a $75.00 target price (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a research note on Tuesday, April 9th. 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’s stock. According to MarketBeat, PJT Partners currently has an average rating of “Hold” and an average price target of $93.25.

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.