Hsbc Holdings PLC Has $875,000 Stake in PJT Partners Inc. (NYSE:PJT)

Hsbc Holdings PLC trimmed its stake in PJT Partners Inc. (NYSE:PJT) by 98.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,077 shares of the financial services provider’s stock after selling 459,356 shares during the period. Hsbc Holdings PLC’s holdings in PJT Partners were worth $875,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SouthState Corp bought a new position in shares of PJT Partners in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in PJT Partners during the 2nd quarter worth $30,000. Fidelis Capital Partners LLC bought a new stake in PJT Partners during the first quarter valued at about $39,000. EntryPoint Capital LLC grew its position in shares of PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 359 shares during the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of PJT Partners in the second quarter worth about $204,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PJT Partners Price Performance

Shares of PJT stock opened at $133.81 on Monday. PJT Partners Inc. has a one year low of $71.47 and a one year high of $137.19. The stock has a fifty day moving average price of $124.46 and a 200 day moving average price of $109.76. The stock has a market cap of $3.18 billion, a P/E ratio of 36.86 and a beta of 0.61.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. During the same period in the previous year, the business earned $0.99 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. Equities research analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.75%. PJT Partners’s payout ratio is presently 27.55%.

Insider Buying and Selling

In other PJT Partners 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 transaction of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares in the company, valued at $968,369.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now directly owns 500 shares in the company, valued at $62,430. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now directly owns 7,404 shares in the company, valued at $968,369.16. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock worth $3,092,668 in the last 90 days. 10.67% of the stock is owned by company insiders.

PJT Partners Company 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.