Martingale Asset Management L P Reduces Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Martingale Asset Management L P cut its position in shares of PJT Partners Inc. (NYSE:PJT) by 0.4% during the third quarter, Holdings Channel.com reports. The firm owned 22,778 shares of the financial services provider’s stock after selling 97 shares during the quarter. Martingale Asset Management L P’s holdings in PJT Partners were worth $3,037,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PJT. Public Sector Pension Investment Board raised its position in shares of PJT Partners by 4.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 50,508 shares of the financial services provider’s stock valued at $6,735,000 after buying an additional 2,000 shares during the period. Bridgewater Associates LP raised its position in PJT Partners by 5.5% in the third quarter. Bridgewater Associates LP now owns 12,642 shares of the financial services provider’s stock valued at $1,686,000 after purchasing an additional 659 shares during the period. Townsquare Capital LLC raised its position in PJT Partners by 1.9% in the third quarter. Townsquare Capital LLC now owns 27,743 shares of the financial services provider’s stock valued at $3,699,000 after purchasing an additional 508 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of PJT Partners by 40.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 32,747 shares of the financial services provider’s stock valued at $4,366,000 after purchasing an additional 9,510 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of PJT Partners by 106.2% during the 3rd quarter. Quantbot Technologies LP now owns 15,737 shares of the financial services provider’s stock worth $2,098,000 after purchasing an additional 8,104 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Stock Performance

Shares of PJT opened at $167.36 on Friday. The stock has a 50-day simple moving average of $147.49 and a 200-day simple moving average of $126.48. PJT Partners Inc. has a 1 year low of $85.98 and a 1 year high of $168.92. The stock has a market capitalization of $3.97 billion, a PE ratio of 42.48 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 EPS. Analysts predict that PJT Partners Inc. will post 4.4 EPS for the current 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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Analysts Set New Price Targets

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

Insider Buying and Selling at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 14.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders have sold 14,766 shares of company stock worth $1,951,480 over the last three months. Insiders own 11.71% of the company’s stock.

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.