The Manufacturers Life Insurance Company Has $1.95 Million Stake in PJT Partners Inc. (NYSE:PJT)

The Manufacturers Life Insurance Company decreased its stake in PJT Partners Inc. (NYSE:PJT) by 4.1% during the 4th quarter, HoldingsChannel reports. The fund owned 12,322 shares of the financial services provider’s stock after selling 524 shares during the period. The Manufacturers Life Insurance Company’s holdings in PJT Partners were worth $1,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new stake in shares of PJT Partners in the fourth quarter worth $5,351,000. Aquatic Capital Management LLC lifted its stake in shares of PJT Partners by 863.0% in the fourth quarter. Aquatic Capital Management LLC now owns 11,556 shares of the financial services provider’s stock valued at $1,824,000 after buying an additional 10,356 shares during the period. Two Sigma Securities LLC bought a new stake in shares of PJT Partners in the fourth quarter valued at about $220,000. Voya Investment Management LLC lifted its stake in shares of PJT Partners by 11.2% in the fourth quarter. Voya Investment Management LLC now owns 13,293 shares of the financial services provider’s stock valued at $2,098,000 after buying an additional 1,335 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in PJT Partners by 13.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,727 shares of the financial services provider’s stock valued at $2,640,000 after acquiring an additional 1,964 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Down 1.4%

Shares of PJT opened at $144.50 on Monday. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 29.49 and a beta of 0.76. PJT Partners Inc. has a 12 month low of $99.42 and a 12 month high of $190.28. The company has a 50-day moving average price of $137.97 and a two-hundred day moving average price of $152.45.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The firm had revenue of $324.50 million during the quarter, compared to analysts’ expectations of $361.26 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 earnings per share. Equities research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Wednesday, June 4th. PJT Partners’s payout ratio is 17.64%.

Insider Transactions at PJT Partners

In other news, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the sale, the general counsel now owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This represents a 68.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.71% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. Keefe, Bruyette & Woods upped their price target on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, PJT Partners has an average rating of “Hold” and an average price target of $158.50.

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.