Principal Financial Group Inc. Sells 7,658 Shares of PJT Partners Inc. $PJT

Principal Financial Group Inc. trimmed its stake in shares of PJT Partners Inc. (NYSE:PJT) by 4.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 148,659 shares of the financial services provider’s stock after selling 7,658 shares during the quarter. Principal Financial Group Inc. owned 0.61% of PJT Partners worth $26,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. CWM LLC raised its holdings in shares of PJT Partners by 50.8% in the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock valued at $32,000 after buying an additional 61 shares during the last quarter. M&T Bank Corp increased its position in PJT Partners by 3.3% in the 2nd quarter. M&T Bank Corp now owns 2,302 shares of the financial services provider’s stock valued at $380,000 after acquiring an additional 74 shares in the last quarter. F m Investments LLC increased its position in PJT Partners by 0.3% in the 2nd quarter. F m Investments LLC now owns 26,851 shares of the financial services provider’s stock valued at $4,431,000 after acquiring an additional 80 shares in the last quarter. Huntington National Bank raised its stake in shares of PJT Partners by 13.8% in the second quarter. Huntington National Bank now owns 710 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 86 shares during the last quarter. Finally, Intrust Bank NA lifted its position in shares of PJT Partners by 2.7% during the second quarter. Intrust Bank NA now owns 3,451 shares of the financial services provider’s stock worth $569,000 after purchasing an additional 91 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PJT has been the topic of a number of analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods increased their target price on PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research note on Thursday, January 8th. Evercore set a $180.00 target price on PJT Partners in a research report on Monday, October 13th. UBS Group assumed coverage on PJT Partners in a research note on Thursday, December 11th. They issued a “neutral” rating and a $180.00 price target for the company. Finally, Zacks Research lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $179.50.

PJT Partners Price Performance

NYSE:PJT opened at $163.02 on Friday. The business’s 50-day simple moving average is $174.34 and its 200-day simple moving average is $175.73. PJT Partners Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $195.62. The stock has a market capitalization of $3.96 billion, a PE ratio of 24.55 and a beta of 0.82.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.14. The business had revenue of $535.16 million for the quarter, compared to analyst estimates of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 32.98%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. On average, research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners’s payout ratio is 15.06%.

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.