Texas Permanent School Fund Corp Sells 2,827 Shares of PJT Partners Inc. (NYSE:PJT)

Texas Permanent School Fund Corp lowered its holdings in PJT Partners Inc. (NYSE:PJT) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,690 shares of the financial services provider’s stock after selling 2,827 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of PJT Partners worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SouthState Corp acquired a new stake in PJT Partners in the second quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in PJT Partners in the second quarter valued at $30,000. Fidelis Capital Partners LLC acquired a new stake in PJT Partners in the first quarter valued at $39,000. EntryPoint Capital LLC lifted its stake in PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 359 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in PJT Partners by 41.0% in the first quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 603 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

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

PJT Partners Stock Performance

NYSE PJT opened at $129.67 on Thursday. The stock has a market cap of $3.11 billion, a PE ratio of 35.72 and a beta of 0.61. PJT Partners Inc. has a 52-week low of $71.47 and a 52-week high of $136.90. The firm has a 50-day moving average of $121.89 and a 200-day moving average of $108.03.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.49. The firm had revenue of $360.00 million during 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 for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.99 EPS. As a group, analysts predict that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s dividend payout ratio is currently 27.55%.

Insider Buying and Selling at PJT Partners

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