Victory Capital Management Inc. Sells 20,146 Shares of PJT Partners Inc. (NYSE:PJT)

Victory Capital Management Inc. lessened its stake in PJT Partners Inc. (NYSE:PJT) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 101,799 shares of the financial services provider’s stock after selling 20,146 shares during the period. Victory Capital Management Inc. owned about 0.42% of PJT Partners worth $10,985,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its holdings in PJT Partners by 11,553.8% in the fourth quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock valued at $52,120,000 after acquiring an additional 505,712 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of PJT Partners in the 1st quarter valued at $43,029,000. Vanguard Group Inc. increased its position in shares of PJT Partners by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after buying an additional 317,437 shares during the period. Principal Financial Group Inc. boosted its position in PJT Partners by 934.8% during the fourth quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock valued at $13,230,000 after acquiring an additional 117,322 shares during the last quarter. Finally, Woodson Capital Management LP acquired a new stake in PJT Partners during the 4th quarter worth about $8,150,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Up 3.5 %

Shares of NYSE:PJT opened at $124.34 on Friday. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $136.90. The stock’s 50 day moving average is $120.75 and its 200-day moving average is $107.52. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 34.25 and a beta of 0.61.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.99 earnings per share. Equities research analysts anticipate that PJT Partners Inc. will post 4.35 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.00 annualized dividend and a yield of 0.80%. PJT Partners’s payout ratio is 27.55%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PJT shares. UBS Group boosted their price objective on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, JMP Securities increased their target price on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, PJT Partners presently has a consensus rating of “Hold” and an average price target of $116.80.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares in the company, valued at approximately $7,301,312.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at $1,029,783.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,297 shares of company stock worth $3,092,668. Insiders own 10.67% of the company’s stock.

PJT Partners Profile

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.