Jane Street Group LLC Sells 4,345 Shares of PJT Partners Inc. (NYSE:PJT)

Jane Street Group LLC reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,349 shares of the financial services provider’s stock after selling 4,345 shares during the period. Jane Street Group LLC owned approximately 0.14% of PJT Partners worth $4,580,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. SouthState Corp bought a new position in PJT Partners in the 2nd quarter worth about $26,000. Quarry LP grew its holdings in shares of PJT Partners by 186.3% during the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares in the last quarter. GAMMA Investing LLC increased its position in shares of PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares during the last quarter. KBC Group NV lifted its position in PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 426 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in PJT Partners in the 3rd quarter worth approximately $213,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PJT shares. JMP Securities upped their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. One equities 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 presently has an average rating of “Hold” and an average price target of $134.80.

PJT Partners Price Performance

Shares of PJT stock opened at $159.37 on Wednesday. The business has a 50-day moving average of $153.66 and a 200 day moving average of $131.14. PJT Partners Inc. has a 1-year low of $88.51 and a 1-year high of $168.92. The stock has a market capitalization of $3.78 billion, a PE ratio of 40.81 and a beta of 0.65.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share 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 during the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 17.2% compared to the same quarter last year. Analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Insider Buying and Selling

In other PJT Partners news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock valued at $762,980 over the last ninety days. 11.71% of the stock is owned by 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.