PJT Partners Inc. (NYSE:PJT) Shares Acquired by Truist Financial Corp

Truist Financial Corp boosted its holdings in PJT Partners Inc. (NYSE:PJT) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,648 shares of the financial services provider’s stock after purchasing an additional 1,166 shares during the quarter. Truist Financial Corp’s holdings in PJT Partners were worth $933,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at about $43,029,000. Vanguard Group Inc. lifted its holdings in PJT Partners by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after acquiring an additional 317,437 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in PJT Partners in the second quarter valued at approximately $13,803,000. Marshall Wace LLP bought a new position in shares of PJT Partners during the second quarter valued at approximately $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PJT Partners by 36.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock worth $8,017,000 after purchasing an additional 22,556 shares during the period. Institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

NYSE:PJT opened at $144.23 on Monday. The stock has a market cap of $3.46 billion, a PE ratio of 39.73 and a beta of 0.61. PJT Partners Inc. has a fifty-two week low of $71.47 and a fifty-two week high of $146.04. The stock’s 50-day moving average is $126.94 and its two-hundred day moving average is $112.69.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 EPS. On average, equities research analysts anticipate that PJT Partners Inc. will post 4.35 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.69%. PJT Partners’s payout ratio is 27.55%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PJT. UBS Group lifted their price objective 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. JMP Securities boosted their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Two equities 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. According to data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and an average target price of $123.80.

Insider Activity at PJT Partners

In other news, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the completion of the sale, the director now directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 0.00 % 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, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the transaction, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,297 shares of company stock valued at $3,092,668. Insiders own 10.67% 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.