Asset Management Group Inc. Cuts Stock Position in PJT Partners Inc. (NYSE:PJT)

Asset Management Group Inc. trimmed its holdings in PJT Partners Inc. (NYSE:PJT) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,494 shares of the financial services provider’s stock after selling 1,999 shares during the period. PJT Partners comprises about 1.1% of Asset Management Group Inc.’s investment portfolio, making the stock its 26th biggest position. Asset Management Group Inc. owned about 0.16% of PJT Partners worth $6,075,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Principal Securities Inc. lifted its stake in PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of PJT Partners by 32.3% in the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock worth $70,000 after buying an additional 109 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock valued at $82,000 after buying an additional 176 shares during the last quarter. Finally, KBC Group NV grew its holdings in PJT Partners by 25.4% during the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock valued at $159,000 after buying an additional 204 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT Partners stock opened at $143.22 on Friday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 29.23 and a beta of 0.77. The stock has a 50 day moving average price of $139.19 and a 200-day moving average price of $152.45. PJT Partners Inc. has a one year low of $96.96 and a one year high of $190.28.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. During the same period in the previous year, the firm earned $0.98 earnings per share. PJT Partners’s quarterly revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners’s payout ratio is currently 20.41%.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the completion of the sale, the general counsel now directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This trade represents a 68.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.71% of the company’s stock.

Wall Street Analyst Weigh In

PJT has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Citizens Jmp lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $158.50.

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.