Citigroup Inc. Acquires 15,135 Shares of PJT Partners Inc. (NYSE:PJT)

Citigroup Inc. grew its holdings in PJT Partners Inc. (NYSE:PJT) by 101.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,103 shares of the financial services provider’s stock after acquiring an additional 15,135 shares during the period. Citigroup Inc. owned 0.13% of PJT Partners worth $4,014,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in PJT Partners in the third quarter worth approximately $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock worth $11,427,000 after buying an additional 20,845 shares during the last quarter. Atria Investments Inc lifted its stake in shares of PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after buying an additional 142 shares during the last quarter. AdvisorShares Investments LLC acquired a new stake in shares of PJT Partners in the second quarter worth $535,000. Finally, Raymond James & Associates lifted its stake in shares of PJT Partners by 5.4% in the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock worth $15,370,000 after buying an additional 5,929 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $762,980 in the last three months. Insiders own 11.71% of the company’s stock.

PJT Partners Stock Down 2.5 %

Shares of PJT opened at $161.08 on Wednesday. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $168.92. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 40.88 and a beta of 0.65. The company has a 50-day moving average price of $148.58 and a two-hundred day moving average price of $127.54.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business’s revenue was up 17.2% on a year-over-year basis. During the same period last year, the business earned $0.78 earnings per share. Equities research analysts expect that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is currently 25.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. JMP Securities boosted their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $123.80.

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.