Perigon Wealth Management LLC Makes New $219,000 Investment in PJT Partners Inc. (NYSE:PJT)

Perigon Wealth Management LLC bought a new position in shares of PJT Partners Inc. (NYSE:PJT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 1,375 shares of the financial services provider’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sei Investments Co. increased its holdings in PJT Partners by 1.4% during the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock worth $1,129,000 after buying an additional 141 shares during the last quarter. Bank of Montreal Can boosted its position in shares of PJT Partners by 102.5% in the second quarter. Bank of Montreal Can now owns 4,989 shares of the financial services provider’s stock valued at $544,000 after acquiring an additional 2,525 shares during the period. AQR Capital Management LLC boosted its position in shares of PJT Partners by 3.3% in the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 136 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of PJT Partners by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 13,176 shares of the financial services provider’s stock valued at $1,422,000 after acquiring an additional 427 shares during the period. Finally, Algert Global LLC bought a new stake in PJT Partners during the second quarter worth about $247,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PJT has been the subject of several recent analyst reports. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and increased their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Keefe, Bruyette & Woods cut their target price on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, PJT Partners presently has an average rating of “Hold” and a consensus target price of $152.25.

PJT Partners Stock Performance

Shares of PJT Partners stock opened at $165.43 on Tuesday. PJT Partners Inc. has a 52-week low of $88.51 and a 52-week high of $168.92. The stock’s 50-day simple moving average is $160.46 and its 200 day simple moving average is $143.33. The stock has a market capitalization of $3.92 billion, a P/E ratio of 41.99 and a beta of 0.66.

Insider Activity at PJT Partners

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

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.