Wellington Management Group LLP Has $66.45 Million Stock Position in PJT Partners Inc. (NYSE:PJT)

Wellington Management Group LLP lessened its stake in PJT Partners Inc. (NYSE:PJT) by 22.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652,338 shares of the financial services provider’s stock after selling 187,129 shares during the quarter. Wellington Management Group LLP’s holdings in PJT Partners were worth $66,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PJT. Maryland State Retirement & Pension System acquired a new position in PJT Partners during the fourth quarter worth approximately $826,000. Handelsbanken Fonder AB increased its holdings in shares of PJT Partners by 65.4% during the 4th quarter. Handelsbanken Fonder AB now owns 4,300 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 1,700 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in PJT Partners in the 4th quarter valued at $1,397,000. Quadrature Capital Ltd lifted its holdings in PJT Partners by 338.1% during the 4th quarter. Quadrature Capital Ltd now owns 12,004 shares of the financial services provider’s stock valued at $1,222,000 after purchasing an additional 9,264 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in PJT Partners by 6,245.9% during the fourth quarter. International Assets Investment Management LLC now owns 7,742 shares of the financial services provider’s stock worth $789,000 after purchasing an additional 7,620 shares during the period. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PJT shares. JMP Securities restated a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a research note on Tuesday, April 9th. UBS Group restated a “sell” rating and set a $75.00 price objective (down previously from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, PJT Partners presently has a consensus rating of “Hold” and a consensus price target of $93.25.

PJT Partners Stock Performance

PJT stock opened at $106.30 on Friday. PJT Partners Inc. has a 52 week low of $67.06 and a 52 week high of $109.33. The company has a market capitalization of $2.55 billion, a PE ratio of 29.28 and a beta of 0.64. The company’s 50-day simple moving average is $101.05 and its 200 day simple moving average is $99.19.

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

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

PJT Partners 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.