7,038 Shares in PJT Partners Inc (PJT) Purchased by Victory Capital Management Inc.
Victory Capital Management Inc. purchased a new position in shares of PJT Partners Inc (NYSE:PJT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,038 shares of the financial services provider’s stock, valued at approximately $294,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Eagle Asset Management Inc. lifted its stake in PJT Partners by 3.7% during the first quarter. Eagle Asset Management Inc. now owns 1,442,204 shares of the financial services provider’s stock worth $60,284,000 after purchasing an additional 51,553 shares in the last quarter. Vanguard Group Inc. lifted its stake in PJT Partners by 1.3% during the third quarter. Vanguard Group Inc. now owns 913,355 shares of the financial services provider’s stock worth $47,813,000 after purchasing an additional 11,394 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in PJT Partners by 5.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 441,217 shares of the financial services provider’s stock worth $17,102,000 after purchasing an additional 23,766 shares in the last quarter. Northern Trust Corp lifted its stake in PJT Partners by 1.3% during the fourth quarter. Northern Trust Corp now owns 250,399 shares of the financial services provider’s stock worth $9,705,000 after purchasing an additional 3,269 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in PJT Partners by 12.7% during the fourth quarter. Geode Capital Management LLC now owns 214,149 shares of the financial services provider’s stock worth $8,299,000 after purchasing an additional 24,166 shares in the last quarter. Institutional investors own 63.00% of the company’s stock.
Separately, Zacks Investment Research cut PJT Partners from a “hold” rating to a “sell” rating in a research note on Saturday, April 13th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $59.50.
PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.04). The company had revenue of $128.06 million during the quarter. PJT Partners had a net margin of 4.01% and a return on equity of 15.66%. On average, equities analysts forecast that PJT Partners Inc will post 2.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Tuesday, June 4th. PJT Partners’s payout ratio is currently 10.47%.
In related news, Chairman Paul J. Taubman acquired 4,000 shares of PJT Partners stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $42.92 per share, for a total transaction of $171,680.00. Following the completion of the purchase, the chairman now owns 453,200 shares in the company, valued at $19,451,344. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel James W. Cuminale sold 4,462 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $40.60, for a total value of $181,157.20. Following the completion of the sale, the general counsel now owns 51,463 shares in the company, valued at $2,089,397.80. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.
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PJT Partners Company Profile
PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
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