Everence Capital Management Inc. Sells 220 Shares of PJT Partners Inc. (NYSE:PJT)

Everence Capital Management Inc. lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,170 shares of the financial services provider’s stock after selling 220 shares during the period. Everence Capital Management Inc.’s holdings in PJT Partners were worth $342,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quarry LP grew its stake in shares of PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 136 shares during the last quarter. GAMMA Investing LLC boosted its stake in PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares in the last quarter. 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 valued at $107,000 after purchasing an additional 426 shares in the last quarter. nVerses Capital LLC purchased a new position in PJT Partners in the third quarter worth about $213,000. Finally, D.A. Davidson & CO. bought a new position in shares of PJT Partners in the third quarter worth approximately $234,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Up 0.4 %

Shares of PJT stock opened at $157.09 on Tuesday. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $168.92. The stock has a market capitalization of $3.72 billion, a P/E ratio of 39.87 and a beta of 0.66. The firm’s 50 day moving average is $157.62 and its 200 day moving average is $136.65.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the business posted $0.78 EPS. As a group, equities analysts predict 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 was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Wednesday, December 4th. PJT Partners’s payout ratio is currently 25.38%.

Insider Transactions at PJT Partners

In other PJT Partners news, Director James Costos sold 1,500 shares of the 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 1,541 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $159.18, for a total transaction of $245,296.38. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock worth $762,980 in the last quarter. Company insiders own 11.71% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PJT. Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $151.00 to $159.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. UBS Group upgraded 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 research note on Friday, December 6th. Finally, JMP Securities increased their price objective 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.

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.