Arizona State Retirement System Cuts Position in PJT Partners Inc. (NYSE:PJT)

Arizona State Retirement System lowered its position in PJT Partners Inc. (NYSE:PJT) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,426 shares of the financial services provider’s stock after selling 282 shares during the quarter. Arizona State Retirement System’s holdings in PJT Partners were worth $655,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fortis Capital Advisors LLC purchased a new stake in shares of PJT Partners during the 1st quarter worth $29,000. PNC Financial Services Group Inc. lifted its holdings in PJT Partners by 133.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock worth $27,000 after buying an additional 246 shares during the last quarter. Belpointe Asset Management LLC boosted its position in shares of PJT Partners by 423.3% during the 1st quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 381 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of PJT Partners by 61.4% in the 3rd quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 254 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of PJT Partners during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PJT. UBS Group reiterated a “sell” rating and set a $75.00 price target (down from $100.00) on shares of PJT Partners in a research note on Tuesday, March 26th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. Wolfe Research reiterated an “underperform” rating and set a $89.00 target price on shares of PJT Partners in a research note on Wednesday, January 3rd. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $99.00 price target (down previously from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $93.25.

PJT Partners Stock Performance

PJT stock opened at $91.21 on Friday. PJT Partners Inc. has a one year low of $59.61 and a one year high of $107.35. The company has a fifty day moving average of $98.00 and a 200-day moving average of $92.47. The stock has a market capitalization of $2.18 billion, a PE ratio of 29.63 and a beta of 0.68.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.20. PJT Partners had a return on equity of 17.44% and a net margin of 7.09%. The company had revenue of $328.60 million for the quarter, compared to analyst estimates of $304.26 million. During the same quarter in the previous year, the company earned $1.08 EPS. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. Equities analysts forecast that PJT Partners Inc. will post 3.85 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Tuesday, March 5th. PJT Partners’s dividend payout ratio is presently 32.47%.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the transaction, the insider now directly owns 73,421 shares in the company, valued at $7,678,368.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the completion of the transaction, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The disclosure for this sale can be found here. Insiders have sold 27,926 shares of company stock valued at $2,875,672 over the last quarter. Company 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.