Amalgamated Bank Has $935,000 Stock Position in PJT Partners Inc. (NYSE:PJT)

Amalgamated Bank grew its stake in shares of PJT Partners Inc. (NYSE:PJT) by 3.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,015 shares of the financial services provider’s stock after buying an additional 214 shares during the quarter. Amalgamated Bank’s holdings in PJT Partners were worth $935,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PJT. Champlain Investment Partners LLC bought a new position in PJT Partners in the 1st quarter valued at approximately $43,029,000. Point72 Asset Management L.P. bought a new position in shares of PJT Partners during the second quarter valued at $13,803,000. Congress Asset Management Co. raised its stake in shares of PJT Partners by 29.6% during the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after acquiring an additional 72,582 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of PJT Partners during the second quarter worth $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of PJT Partners by 36.1% in the first 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 last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Price Performance

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

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $326.30 million for the quarter, compared to analyst estimates 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 was up 17.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. On average, sell-side analysts expect that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business 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 $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is 25.38%.

Insider Buying and Selling at PJT Partners

In other news, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction that occurred 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 directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This represents a 58.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $62,430. The trade was a 80.12 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Analyst Ratings Changes

PJT has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed 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. UBS Group raised their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. JMP Securities increased their target price 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. Finally, The Goldman Sachs Group raised their price target on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $123.80.

PJT Partners Company 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.