Principal Financial Group Inc. Buys 152 Shares of PJT Partners Inc. (NYSE:PJT)

Principal Financial Group Inc. lifted its stake in shares of PJT Partners Inc. (NYSE:PJT) by 0.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 134,290 shares of the financial services provider’s stock after acquiring an additional 152 shares during the period. Principal Financial Group Inc.’s holdings in PJT Partners were worth $17,906,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. SouthState Corp acquired a new stake in PJT Partners in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners in the 2nd quarter valued at $30,000. GAMMA Investing LLC lifted its stake in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 146 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of PJT Partners during the 3rd quarter valued at $213,000. Finally, EntryPoint Capital LLC grew its position in PJT Partners by 27.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 359 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PJT Partners

In related news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This trade represents a 14.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Costos sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 9,360 shares in the company, valued at approximately $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. In the last ninety days, insiders sold 28,367 shares of company stock valued at $3,633,828. Corporate insiders own 11.71% of the company’s stock.

PJT Partners Price Performance

Shares of PJT stock opened at $159.09 on Friday. The stock has a market capitalization of $3.77 billion, a PE ratio of 40.38 and a beta of 0.61. The business’s 50 day simple moving average is $138.64 and its 200 day simple moving average is $121.20. PJT Partners Inc. has a one year low of $82.64 and a one year high of $163.85.

PJT Partners (NYSE:PJT) last posted 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. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 17.2% on a year-over-year basis. As a group, research analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. PJT Partners’s payout ratio is currently 25.38%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. JMP Securities increased their target price on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, UBS Group upped their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PJT Partners currently has an average 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.