Clearbridge Investments LLC Trims Position in PJT Partners Inc. (NYSE:PJT)

Clearbridge Investments LLC trimmed its position in PJT Partners Inc. (NYSE:PJT) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 826,531 shares of the financial services provider’s stock after selling 69,943 shares during the period. Clearbridge Investments LLC’s holdings in PJT Partners were worth $89,191,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of PJT Partners by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock worth $230,669,000 after buying an additional 17,463 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 valued at $49,446,000 after acquiring an additional 22,117 shares during the period. Champlain Investment Partners LLC purchased a new stake in shares of PJT Partners in the 1st quarter worth $43,029,000. Klingman & Associates LLC raised its holdings in PJT Partners by 5.2% in the 1st quarter. Klingman & Associates LLC now owns 157,056 shares of the financial services provider’s stock worth $14,804,000 after purchasing an additional 7,754 shares during the period. Finally, Principal Financial Group Inc. lifted its position in PJT Partners by 5.5% during the first quarter. Principal Financial Group Inc. now owns 137,016 shares of the financial services provider’s stock valued at $12,915,000 after purchasing an additional 7,144 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $62,430. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock worth $3,092,668 in the last quarter. 10.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on PJT shares. The Goldman Sachs Group upped their price target on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. UBS Group upped their price target on shares of PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Finally, JMP Securities raised their price objective on shares of 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 issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $116.80.

PJT Partners Price Performance

PJT stock opened at $132.98 on Thursday. PJT Partners Inc. has a 1-year low of $71.47 and a 1-year high of $137.19. The business has a 50 day simple moving average of $124.98 and a two-hundred day simple moving average of $110.36. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 36.63 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted 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. The company 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 quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $0.99 earnings per share. Sell-side analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Wednesday, September 4th. PJT Partners’s payout ratio 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.