PJT Partners Inc. (NYSE:PJT) Stake Lowered by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its stake in PJT Partners Inc. (NYSE:PJT) by 32.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,151 shares of the financial services provider’s stock after selling 8,689 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.08% of PJT Partners worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in shares of PJT Partners by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 100 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in PJT Partners by 1.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 158 shares during the last quarter. Parallel Advisors LLC raised its position in PJT Partners by 5.0% during the fourth quarter. Parallel Advisors LLC now owns 3,897 shares of the financial services provider’s stock valued at $397,000 after acquiring an additional 184 shares in the last quarter. SouthState Corp acquired a new stake in PJT Partners in the second quarter valued at approximately $26,000. Finally, Texas Permanent School Fund Corp grew its position in PJT Partners by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 19,517 shares of the financial services provider’s stock worth $1,840,000 after acquiring an additional 255 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $7,301,312.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is owned by company insiders.

PJT Partners Price Performance

PJT stock opened at $135.39 on Friday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 37.30 and a beta of 0.61. The company has a 50-day moving average of $122.82 and a two-hundred day moving average of $108.52. PJT Partners Inc. has a 52-week low of $71.47 and a 52-week high of $137.06.

PJT Partners (NYSE:PJT) last posted 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 business had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 EPS. Equities analysts expect that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. PJT Partners’s payout ratio is 27.55%.

Analysts Set New Price Targets

Several brokerages have recently commented on PJT. UBS Group increased their price target 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. The Goldman Sachs Group raised their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, JMP Securities increased their price objective on PJT Partners from $120.00 to $142.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Two investment 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, the company currently has an average rating of “Hold” and an average price target of $116.80.

About PJT Partners

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.