Clearbridge Investments LLC Trims Stock Position in PJT Partners Inc. $PJT

Clearbridge Investments LLC cut its stake in PJT Partners Inc. (NYSE:PJT) by 7.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 380,485 shares of the financial services provider’s stock after selling 30,096 shares during the period. Clearbridge Investments LLC’s holdings in PJT Partners were worth $63,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in PJT Partners in the third quarter valued at $33,000. Allworth Financial LP lifted its position in 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 last quarter. State of Wyoming purchased a new stake in shares of PJT Partners in the second quarter valued at about $63,000. Exchange Traded Concepts LLC purchased a new stake in shares of PJT Partners in the fourth quarter valued at about $86,000. Finally, Quadrant Capital Group LLC purchased a new stake in shares of PJT Partners in the third quarter valued at about $90,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PJT Partners

In other news, CFO Helen T. Meates sold 8,000 shares of the business’s 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 transaction, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel David Adam Travin sold 3,000 shares of the business’s 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 transaction, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 10.98% of the company’s stock.

PJT Partners Stock Performance

Shares of NYSE:PJT opened at $157.62 on Tuesday. The company has a 50-day simple moving average of $152.88 and a 200-day simple moving average of $159.20. PJT Partners Inc. has a one year low of $127.73 and a one year high of $195.62. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 22.98 and a beta of 0.85.

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

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date is Wednesday, June 3rd. PJT Partners’s payout ratio is 14.58%.

Analyst Ratings Changes

A number of brokerages have recently commented on PJT. Zacks Research cut shares of PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Keefe, Bruyette & Woods upped their target price 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. UBS Group upped their target price 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Finally, The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PJT Partners currently has a consensus rating of “Hold” and a consensus target price of $173.33.

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.