Tower Research Capital LLC TRC Has $263,000 Stake in PJT Partners Inc. (NYSE:PJT)

Tower Research Capital LLC TRC cut its stake in shares of PJT Partners Inc. (NYSE:PJT) by 15.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,667 shares of the financial services provider’s stock after selling 309 shares during the quarter. Tower Research Capital LLC TRC’s holdings in PJT Partners were worth $263,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PJT. Vanguard Group Inc. boosted its holdings in PJT Partners by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider’s stock valued at $396,987,000 after acquiring an additional 127,060 shares during the last quarter. FMR LLC boosted its stake in shares of PJT Partners by 52.8% in the 4th quarter. FMR LLC now owns 637,797 shares of the financial services provider’s stock valued at $100,651,000 after purchasing an additional 220,526 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PJT Partners by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 635,270 shares of the financial services provider’s stock worth $100,273,000 after buying an additional 16,233 shares during the period. Raymond James Financial Inc. bought a new position in PJT Partners during the fourth quarter worth $89,192,000. Finally, Alliancebernstein L.P. lifted its holdings in PJT Partners by 9.8% in the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider’s stock valued at $74,914,000 after buying an additional 42,463 shares during the period. Institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Up 2.4 %

PJT opened at $143.22 on Friday. The company has a market cap of $3.34 billion, a P/E ratio of 29.23 and a beta of 0.76. The company has a fifty day moving average price of $139.19 and a two-hundred day moving average price of $152.48. PJT Partners Inc. has a 1-year low of $97.74 and a 1-year high of $190.28.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million for the quarter, compared to the consensus estimate of $361.26 million. During the same period in the prior year, the business earned $0.98 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts forecast 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. Investors of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners’s dividend payout ratio is currently 17.64%.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel now directly owns 2,288 shares of the company’s stock, valued at approximately $324,301.12. This trade represents a 68.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PJT. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods raised their target price on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Finally, Citizens Jmp lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price 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.