PJT Partners Inc. $PJT Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of PJT Partners Inc. (NYSE:PJT) by 33.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,809 shares of the financial services provider’s stock after selling 4,329 shares during the quarter. State of Alaska Department of Revenue’s holdings in PJT Partners were worth $1,255,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in PJT Partners by 79.3% in the second quarter. Wasatch Advisors LP now owns 1,478,222 shares of the financial services provider’s stock worth $223,123,000 after purchasing an additional 653,685 shares during the period. Bank of New York Mellon Corp bought a new position in shares of PJT Partners during the second quarter worth $28,397,000. Squarepoint Ops LLC grew its holdings in shares of PJT Partners by 619.0% in the 2nd quarter. Squarepoint Ops LLC now owns 157,151 shares of the financial services provider’s stock valued at $23,720,000 after buying an additional 135,294 shares during the period. Janus Henderson Group PLC grew its holdings in shares of PJT Partners by 49.3% in the 1st quarter. Janus Henderson Group PLC now owns 181,980 shares of the financial services provider’s stock valued at $25,448,000 after buying an additional 60,062 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at $6,665,000. Institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT stock opened at $136.78 on Wednesday. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62. The company’s 50 day moving average price is $158.77 and its two-hundred day moving average price is $158.40. The company has a market capitalization of $3.50 billion, a P/E ratio of 18.71 and a beta of 0.89.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The company had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. During the same quarter in the prior year, the company earned $1.54 earnings per share. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts forecast that PJT Partners Inc. will post 7.65 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 2nd. PJT Partners’s payout ratio is currently 13.68%.

Analyst Ratings Changes

PJT has been the topic of several research analyst reports. The Goldman Sachs Group dropped their price objective on PJT Partners from $203.00 to $182.00 and set a “buy” rating on the stock in a research note on Thursday, October 1st. BMO Capital Markets reiterated an “outperform” rating on shares of PJT Partners in a report on Tuesday, October 6th. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research note on Wednesday, August 26th. UBS Group decreased their target price on PJT Partners from $176.00 to $165.00 and set a “neutral” rating for the company in a research note on Wednesday, October 7th. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, August 29th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, PJT Partners has an average rating of “Hold” and an average price target of $168.33.

Insider Activity at PJT Partners

In other PJT Partners news, Director Grace Skaugen sold 1,283 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the completion of the transaction, the director owned 500 shares in the company, valued at approximately $83,835. This represents a 71.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Costos sold 1,723 shares of PJT Partners stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the sale, the director directly owned 11,289 shares in the company, valued at $1,975,575. This represents a 13.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 11,951 shares of company stock valued at $2,061,681. 10.98% of the stock is owned by insiders.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.