SG Americas Securities LLC Makes New $3.79 Million Investment in PJT Partners Inc. (NYSE:PJT)

SG Americas Securities LLC purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,471 shares of the financial services provider’s stock, valued at approximately $3,788,000. SG Americas Securities LLC owned about 0.12% of PJT Partners at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PJT. Versant Capital Management Inc acquired a new stake in shares of PJT Partners during the 1st quarter worth about $30,000. Principal Securities Inc. boosted its position in shares of PJT Partners by 385.4% in the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 146 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 176 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of PJT Partners by 33.4% in the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 149 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the sale, the general counsel now owns 2,288 shares of the company’s stock, valued at $324,301.12. This represents a 68.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the sale, the director now directly owns 8,847 shares of the company’s stock, valued at $1,329,615.63. The trade was a 54.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock valued at $3,722,082 over the last 90 days. Corporate insiders own 11.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a research report on Monday, May 12th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $154.50.

PJT Partners Stock Performance

PJT opened at $151.04 on Friday. The company’s 50 day simple moving average is $143.18 and its 200 day simple moving average is $152.08. PJT Partners Inc. has a 1 year low of $99.77 and a 1 year high of $190.28. The stock has a market capitalization of $3.69 billion, a PE ratio of 30.82 and a beta of 0.74.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.11. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The business had revenue of $324.50 million for the quarter, compared to analysts’ expectations of $361.26 million. During the same period last year, the company earned $0.98 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. As a group, sell-side analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.66%. PJT Partners’s dividend payout ratio is currently 17.64%.

PJT Partners Profile

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.