HighTower Advisors LLC Lowers Position in PJT Partners Inc. (NYSE:PJT)

HighTower Advisors LLC decreased its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 2.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,405 shares of the financial services provider’s stock after selling 132 shares during the quarter. HighTower Advisors LLC’s holdings in PJT Partners were worth $719,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PJT. SouthState Corp bought a new stake in PJT Partners during the second quarter valued at approximately $26,000. GAMMA Investing LLC raised its position in shares of PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares in the last quarter. KBC Group NV lifted its holdings in shares of PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares during the last quarter. nVerses Capital LLC purchased a new position in PJT Partners in the third quarter worth $213,000. Finally, D.A. Davidson & CO. purchased a new stake in PJT Partners during the third quarter valued at about $234,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PJT. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities increased their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $134.80.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the transaction, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is owned by corporate insiders.

PJT Partners Trading Down 5.0 %

Shares of NYSE PJT opened at $151.52 on Thursday. The firm has a fifty day simple moving average of $154.03 and a two-hundred day simple moving average of $131.51. The firm has a market capitalization of $3.59 billion, a PE ratio of 38.46 and a beta of 0.65. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $168.92.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period last year, the business posted $0.78 earnings per share. PJT Partners’s quarterly revenue was up 17.2% compared to the same quarter last year. On average, sell-side analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.66%. PJT Partners’s payout ratio is 25.38%.

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.