Janus Henderson Group PLC Trims Holdings in PJT Partners Inc. (NYSE:PJT)

Janus Henderson Group PLC trimmed its stake in PJT Partners Inc. (NYSE:PJT) by 5.4% during the third quarter, Holdings Channel.com reports. The fund owned 22,399 shares of the financial services provider’s stock after selling 1,282 shares during the period. Janus Henderson Group PLC’s holdings in PJT Partners were worth $2,987,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp purchased a new stake in shares of PJT Partners in the 2nd quarter valued at approximately $26,000. GAMMA Investing LLC increased its stake in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after buying an additional 146 shares during the period. KBC Group NV increased its stake in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after buying an additional 426 shares during the period. nVerses Capital LLC acquired a new position in PJT Partners during the 3rd quarter worth approximately $213,000. Finally, D.A. Davidson & CO. acquired a new position in PJT Partners during the 3rd quarter worth approximately $234,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

PJT stock opened at $164.50 on Thursday. The company has a fifty day moving average price of $151.92 and a 200 day moving average price of $129.76. PJT Partners Inc. has a 12 month low of $88.51 and a 12 month high of $168.92. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 41.75 and a beta of 0.65.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the prior year, the firm earned $0.78 EPS. PJT Partners’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given 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 0.61%. PJT Partners’s payout ratio is currently 25.38%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PJT shares. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities upped 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.80.

Insiders Place Their Bets

In other news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the transaction, the director now owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is owned by insiders.

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.