State of New Jersey Common Pension Fund D Sells 2,229 Shares of PJT Partners Inc. (NYSE:PJT)

State of New Jersey Common Pension Fund D cut its stake in shares of PJT Partners Inc. (NYSE:PJT) by 12.3% during the 3rd quarter, Holdings Channel reports. The fund owned 15,922 shares of the financial services provider’s stock after selling 2,229 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PJT Partners were worth $2,123,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PJT. Louisiana State Employees Retirement System raised its holdings in shares of PJT Partners by 0.9% during the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after purchasing an additional 100 shares during the period. New York State Teachers Retirement System raised its stake in PJT Partners by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after buying an additional 100 shares during the period. American Century Companies Inc. boosted its holdings in PJT Partners by 0.8% in the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after acquiring an additional 120 shares in the last quarter. AQR Capital Management LLC grew its stake in PJT Partners by 3.3% in the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $454,000 after acquiring an additional 136 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of PJT Partners by 1.4% during the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock valued at $1,129,000 after acquiring an additional 141 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now directly owns 500 shares in the company, valued at $62,430. This represents a 80.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,367 shares of company stock valued at $3,633,828 in the last ninety days. 11.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. JMP Securities lifted their price target 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. UBS Group raised 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. Finally, The Goldman Sachs Group boosted their price objective on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners Price Performance

PJT opened at $159.09 on Friday. PJT Partners Inc. has a fifty-two week low of $82.64 and a fifty-two week high of $163.85. The firm has a market capitalization of $3.77 billion, a P/E ratio of 40.38 and a beta of 0.61. The company’s 50-day moving average is $138.64 and its 200 day moving average is $121.20.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The firm had revenue of $326.30 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.78 EPS. On average, equities research analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

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

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.