Corebridge Financial Inc. Sells 1,131 Shares of PJT Partners Inc. (NYSE:PJT)

Corebridge Financial Inc. reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 8.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 12,423 shares of the financial services provider’s stock after selling 1,131 shares during the quarter. Corebridge Financial Inc.’s holdings in PJT Partners were worth $1,960,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Congress Wealth Management LLC DE raised its stake in shares of PJT Partners by 21.7% during the fourth quarter. Congress Wealth Management LLC DE now owns 66,562 shares of the financial services provider’s stock valued at $10,504,000 after acquiring an additional 11,860 shares during the last quarter. Vanguard Group Inc. increased its holdings in PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock valued at $396,987,000 after purchasing an additional 127,060 shares during the period. LPL Financial LLC raised its position in PJT Partners by 11.6% during the 4th quarter. LPL Financial LLC now owns 11,601 shares of the financial services provider’s stock valued at $1,831,000 after purchasing an additional 1,210 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in PJT Partners in the 4th quarter worth approximately $726,000. Finally, Quantbot Technologies LP grew its position in shares of PJT Partners by 15.7% in the 4th quarter. Quantbot Technologies LP now owns 18,200 shares of the financial services provider’s stock worth $2,872,000 after buying an additional 2,463 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

PJT has been the subject of a number of recent analyst reports. Citizens Jmp downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $158.50.

PJT Partners Price Performance

Shares of NYSE PJT opened at $139.89 on Wednesday. PJT Partners Inc. has a 1 year low of $90.95 and a 1 year high of $190.28. The firm has a 50-day moving average of $157.23 and a 200 day moving average of $153.37. The stock has a market cap of $3.26 billion, a P/E ratio of 28.55 and a beta of 0.68.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. During the same period last year, the business earned $0.96 earnings per share. The business’s revenue was up 45.3% on a year-over-year basis. Research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.71%. PJT Partners’s payout ratio is presently 20.41%.

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.