Legal & General Group Plc Sells 3,382 Shares of PJT Partners Inc. $PJT

Legal & General Group Plc reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 5.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,331 shares of the financial services provider’s stock after selling 3,382 shares during the quarter. Legal & General Group Plc owned 0.26% of PJT Partners worth $10,422,000 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 company. New Age Alpha Advisors LLC raised its position in PJT Partners by 6.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 78 shares in the last quarter. Handelsbanken Fonder AB raised its position in PJT Partners by 50.0% during the fourth quarter. Handelsbanken Fonder AB now owns 8,400 shares of the financial services provider’s stock worth $1,404,000 after acquiring an additional 2,800 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of PJT Partners by 8.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock valued at $23,825,000 after purchasing an additional 10,570 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of PJT Partners by 3.0% in the fourth quarter. ProShare Advisors LLC now owns 4,485 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 131 shares during the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of PJT Partners by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider’s stock valued at $946,000 after purchasing an additional 78 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on PJT shares. UBS Group upped their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a report on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Zacks Research downgraded shares of PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $173.33.

PJT Partners Stock Performance

PJT stock opened at $154.47 on Thursday. The company’s 50-day simple moving average is $151.58 and its 200 day simple moving average is $159.29. PJT Partners Inc. has a 52 week low of $127.73 and a 52 week high of $195.62. The company has a market capitalization of $3.99 billion, a PE ratio of 22.52 and a beta of 0.85.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.51 by $0.03. The business had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. PJT Partners’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 earnings per share. On average, analysts forecast that PJT Partners Inc. will post 7.5 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, June 3rd. PJT Partners’s dividend payout ratio is presently 14.58%.

Insider Transactions at PJT Partners

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.98% of the company’s stock.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.