Prospector Partners LLC Sells 27,156 Shares of PJT Partners Inc. $PJT

Prospector Partners LLC reduced its holdings in PJT Partners Inc. (NYSE:PJT) by 50.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,800 shares of the financial services provider’s stock after selling 27,156 shares during the period. PJT Partners comprises 9.6% of Prospector Partners LLC’s holdings, making the stock its 5th largest position. Prospector Partners LLC owned about 0.11% of PJT Partners worth $4,481,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in PJT Partners by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock valued at $114,195,000 after purchasing an additional 16,388 shares during the period. Morgan Stanley grew its holdings in PJT Partners by 7.5% in the fourth quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock valued at $110,307,000 after purchasing an additional 45,758 shares during the period. Wasatch Advisors LP grew its holdings in PJT Partners by 52.1% in the fourth quarter. Wasatch Advisors LP now owns 587,109 shares of the financial services provider’s stock valued at $98,165,000 after purchasing an additional 201,110 shares during the period. Congress Asset Management Co. grew its holdings in PJT Partners by 9.9% in the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock valued at $97,632,000 after purchasing an additional 52,548 shares during the period. Finally, Alliancebernstein L.P. grew its holdings in PJT Partners by 9.8% in the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock valued at $87,239,000 after purchasing an additional 47,279 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the sale, the chief financial officer directly owned 58,466 shares of the company’s stock, valued at $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 10.98% of the company’s stock.

Wall Street Analysts Forecast Growth

PJT has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Zacks Research lowered PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, April 1st. Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, UBS Group lifted their price target on PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $173.33.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $152.16 on Monday. The business’s 50 day moving average price is $154.27 and its 200-day moving average price is $158.94. The firm has a market capitalization of $3.93 billion, a PE ratio of 22.18 and a beta of 0.85. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The business’s revenue was up 28.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.05 earnings per share. As a group, analysts expect that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. PJT Partners’s payout ratio is currently 14.58%.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.