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

Handelsbanken Fonder AB reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 25.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PJT. Versant Capital Management Inc increased its position in PJT Partners by 73.3% during the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after buying an additional 99 shares during the period. Allworth Financial LP boosted its position in shares of PJT Partners by 85.8% in the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 133 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of PJT Partners in the first quarter valued at about $50,000. State of Wyoming acquired a new position in shares of PJT Partners in the second quarter valued at about $63,000. Finally, Kestra Advisory Services LLC bought a new position in PJT Partners during the fourth quarter worth about $65,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PJT shares. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. UBS Group reiterated a “neutral” rating and issued a $176.00 price target on shares of PJT Partners in a research report on Wednesday, July 29th. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Keefe, Bruyette & Woods increased their price target on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Finally, BMO Capital Markets raised their price objective on PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $177.50.

PJT Partners Stock Down 0.7%

PJT stock opened at $169.81 on Wednesday. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62. The firm has a market cap of $4.34 billion, a P/E ratio of 23.23 and a beta of 0.83. The company’s 50-day moving average price is $163.37 and its two-hundred day moving average price is $155.29.

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

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend 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%.

Insiders Place Their Bets

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

PJT Partners 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.