Handelsbanken Fonder AB Sells 3,000 Shares of PJT Partners Inc. $PJT

Handelsbanken Fonder AB lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 25.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,800 shares of the financial services provider’s stock after selling 3,000 shares during the period. Handelsbanken Fonder AB’s holdings in PJT Partners were worth $1,328,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PJT. Jackson Creek Investment Advisors LLC bought a new position in PJT Partners in the fourth quarter valued at about $1,373,000. Bessemer Group Inc. grew its holdings in shares of PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after purchasing an additional 107,564 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of PJT Partners by 8.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock worth $23,825,000 after purchasing an additional 10,570 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its stake in shares of PJT Partners by 28.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after buying an additional 7,830 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of PJT Partners by 27.3% in the first quarter. California State Teachers Retirement System now owns 27,881 shares of the financial services provider’s stock valued at $3,896,000 after buying an additional 5,980 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Grace Reksten Skaugen sold 1,283 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the completion of the sale, the director directly owned 500 shares in the company, valued at approximately $83,835. This trade represents a 71.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Emily K. Rafferty sold 1,100 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $167.35, for a total value of $184,085.00. Following the sale, the director owned 9,568 shares of the company’s stock, valued at approximately $1,601,204.80. The trade was a 10.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PJT shares. UBS Group reiterated a “neutral” rating and set a $176.00 target price on shares of PJT Partners in a research report on Wednesday, July 29th. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. BMO Capital Markets boosted their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods raised their target price on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.50.

PJT Partners Stock Performance

NYSE:PJT opened at $169.81 on Wednesday. The company has a market capitalization of $4.34 billion, a PE ratio of 23.23 and a beta of 0.83. The company has a 50 day simple moving average of $163.37 and a two-hundred day simple moving average of $155.29. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The firm had revenue of $486.29 million for the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the previous year, the company earned $1.54 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Research analysts predict that PJT Partners Inc. will post 8 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd 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 of this dividend is Wednesday, September 2nd. PJT Partners’s dividend payout ratio (DPR) is currently 13.68%.

PJT Partners Company Profile

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.