KAMES CAPITAL plc Sells 4,025 Shares of PJT Partners Inc (PJT)

KAMES CAPITAL plc cut its stake in shares of PJT Partners Inc (NYSE:PJT) by 8.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,317 shares of the financial services provider’s stock after selling 4,025 shares during the period. KAMES CAPITAL plc’s holdings in PJT Partners were worth $1,975,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. First Trust Advisors LP boosted its position in PJT Partners by 0.8% during the second quarter. First Trust Advisors LP now owns 13,595 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 111 shares during the last quarter. Legal & General Group Plc boosted its position in PJT Partners by 4.0% during the second quarter. Legal & General Group Plc now owns 4,375 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 169 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in PJT Partners by 2.5% during the second quarter. The Manufacturers Life Insurance Company now owns 13,301 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 322 shares during the last quarter. TIAA CREF Investment Management LLC boosted its position in PJT Partners by 1.9% during the second quarter. TIAA CREF Investment Management LLC now owns 48,556 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 926 shares during the last quarter. Finally, Voya Investment Management LLC boosted its position in PJT Partners by 13.3% during the second quarter. Voya Investment Management LLC now owns 8,731 shares of the financial services provider’s stock valued at $351,000 after purchasing an additional 1,026 shares during the last quarter. 58.20% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on PJT. Sandler O’Neill set a $55.00 price target on PJT Partners and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research raised PJT Partners from a “sell” rating to a “hold” rating in a research report on Thursday, January 4th. Buckingham Research began coverage on PJT Partners in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $51.00 price target for the company. Finally, JMP Securities began coverage on PJT Partners in a research report on Monday, September 18th. They set an “outperform” rating and a $45.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. PJT Partners currently has an average rating of “Hold” and an average target price of $48.60.

Shares of PJT Partners Inc (NYSE:PJT) opened at $48.86 on Friday. PJT Partners Inc has a 52-week low of $30.03 and a 52-week high of $49.38. The stock has a market capitalization of $892.94, a P/E ratio of 33.12, a PEG ratio of 1.47 and a beta of 0.46.

PJT Partners announced that its board has initiated a share buyback plan on Tuesday, October 31st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.41%. PJT Partners’s payout ratio is 33.90%.

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About PJT Partners

PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.

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Institutional Ownership by Quarter for PJT Partners (NYSE:PJT)

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