SG Americas Securities LLC Sells 4,385 Shares of PJT Partners Inc. $PJT

SG Americas Securities LLC lessened its holdings in PJT Partners Inc. (NYSE:PJT) by 44.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,390 shares of the financial services provider’s stock after selling 4,385 shares during the period. SG Americas Securities LLC’s holdings in PJT Partners were worth $753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of PJT Partners by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 682,886 shares of the financial services provider’s stock worth $114,195,000 after purchasing an additional 16,388 shares during the last quarter. Morgan Stanley grew its holdings in shares of PJT Partners by 7.5% in the fourth quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock worth $110,307,000 after purchasing an additional 45,758 shares during the last quarter. Wasatch Advisors LP increased its stake in PJT Partners by 52.1% in the 4th quarter. Wasatch Advisors LP now owns 587,109 shares of the financial services provider’s stock worth $98,165,000 after buying an additional 201,110 shares during the period. Congress Asset Management Co. increased its stake in PJT Partners by 9.9% in the 4th quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock worth $97,632,000 after buying an additional 52,548 shares during the period. Finally, Invesco Ltd. lifted its holdings in PJT Partners by 3.2% during the 4th quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock valued at $89,595,000 after buying an additional 16,445 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

PJT has been the subject of several research reports. UBS Group boosted their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Finally, The Goldman Sachs Group upgraded 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus target price of $173.33.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel owned 2,052 shares of the company’s stock, valued at $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Helen T. Meates sold 8,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.98% of the company’s stock.

PJT Partners Stock Performance

NYSE:PJT opened at $172.30 on Tuesday. The firm has a 50-day simple moving average of $155.49 and a 200-day simple moving average of $157.32. PJT Partners Inc. has a one year low of $127.73 and a one year high of $195.62. The firm has a market cap of $4.45 billion, a P/E ratio of 25.17 and a beta of 0.85.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company’s quarterly revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. On average, research analysts predict that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is 14.58%.

PJT Partners Company Profile

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.