State of New Jersey Common Pension Fund D Sells 8,689 Shares of PJT Partners Inc. (NYSE:PJT)

State of New Jersey Common Pension Fund D decreased its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 32.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,151 shares of the financial services provider’s stock after selling 8,689 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PJT Partners were worth $1,959,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. AdvisorShares Investments LLC acquired a new position in shares of PJT Partners in the 2nd quarter worth approximately $535,000. Anchor Capital Advisors LLC raised its stake in PJT Partners by 7.2% during the second quarter. Anchor Capital Advisors LLC now owns 16,688 shares of the financial services provider’s stock worth $1,801,000 after acquiring an additional 1,122 shares in the last quarter. SouthState Corp acquired a new position in PJT Partners during the second quarter worth $26,000. Versor Investments LP bought a new position in shares of PJT Partners during the second quarter valued at $746,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of PJT Partners by 24.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 20,845 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the transaction, the director now owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The disclosure for this sale can be found here. Insiders have sold a total of 25,297 shares of company stock worth $3,092,668 over the last 90 days. Insiders own 10.67% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT stock opened at $135.39 on Friday. PJT Partners Inc. has a 1 year low of $71.47 and a 1 year high of $137.06. The firm’s 50 day moving average is $122.82 and its 200-day moving average is $108.52. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 37.30 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. PJT Partners’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.99 EPS. On average, equities research analysts forecast that PJT Partners Inc. will post 4.35 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Wednesday, September 4th. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PJT. The Goldman Sachs Group increased their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. UBS Group lifted their target price on shares of PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, JMP Securities lifted their price objective on PJT Partners from $120.00 to $142.00 and gave the company a “market outperform” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $116.80.

About PJT Partners

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.