Victory Capital Management Inc. Lowers Holdings in PJT Partners Inc. (NYSE:PJT)

Victory Capital Management Inc. lowered its stake in shares of PJT Partners Inc. (NYSE:PJT) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,893 shares of the financial services provider’s stock after selling 4,906 shares during the period. Victory Capital Management Inc. owned 0.41% of PJT Partners worth $12,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in shares of PJT Partners during the third quarter worth $453,000. Crossmark Global Holdings Inc. acquired a new position in shares of PJT Partners in the 3rd quarter valued at $262,000. Atria Investments Inc increased its position in shares of PJT Partners by 5.9% in the 3rd quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock valued at $342,000 after acquiring an additional 142 shares during the period. Portside Wealth Group LLC grew its position in PJT Partners by 5.2% during the 3rd quarter. Portside Wealth Group LLC now owns 3,684 shares of the financial services provider’s stock worth $491,000 after purchasing an additional 181 shares during the period. Finally, Olympiad Research LP acquired a new stake in PJT Partners during the 3rd quarter worth about $310,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PJT. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. JMP Securities raised their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $123.80.

Insider Transactions at PJT Partners

In related 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 transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The trade was a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total transaction of $251,592.90. Following the sale, the director now directly owns 500 shares in the company, valued at approximately $62,430. This represents a 80.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,367 shares of company stock worth $3,633,828 over the last ninety days. 11.71% of the stock is currently owned by company insiders.

PJT Partners Stock Performance

NYSE PJT opened at $155.86 on Thursday. PJT Partners Inc. has a one year low of $82.64 and a one year high of $163.85. The firm’s fifty day moving average is $141.72 and its two-hundred day moving average is $123.08. The firm has a market cap of $3.69 billion, a PE ratio of 39.22 and a beta of 0.61.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The business had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue was up 17.2% compared to the same quarter last year. Research analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

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.