Quest Partners LLC Decreases Stock Position in PJT Partners Inc. (NYSE:PJT)

Quest Partners LLC lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 42.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,191 shares of the financial services provider’s stock after selling 3,100 shares during the period. Quest Partners LLC’s holdings in PJT Partners were worth $559,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in PJT Partners by 0.7% during the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock valued at $230,669,000 after buying an additional 17,463 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PJT Partners by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after acquiring an additional 22,117 shares in the last quarter. Congress Asset Management Co. boosted its position in shares of PJT Partners by 29.6% during the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after acquiring an additional 72,582 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of PJT Partners in the second quarter valued at $13,803,000. Finally, Raymond James & Associates increased its position in PJT Partners by 5.4% in the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock worth $15,370,000 after purchasing an additional 5,929 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. This trade represents a 58.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $62,430. This trade represents a 80.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,367 shares of company stock valued at $3,633,828. 11.71% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on PJT. JMP Securities increased their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group boosted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price objective on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.80.

PJT Partners Trading Up 1.2 %

Shares of NYSE:PJT opened at $162.79 on Friday. PJT Partners Inc. has a 12 month low of $84.57 and a 12 month high of $163.85. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 41.32 and a beta of 0.61. The firm’s 50-day moving average is $143.29 and its 200 day moving average is $123.58.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, equities analysts forecast that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

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.