UBS Group AG Reduces Position in PJT Partners Inc. $PJT

UBS Group AG cut its position in PJT Partners Inc. (NYSE:PJT) by 67.1% during the fourth quarter, HoldingsChannel reports. The firm owned 41,158 shares of the financial services provider’s stock after selling 83,881 shares during the quarter. UBS Group AG’s holdings in PJT Partners were worth $6,882,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP acquired a new position in shares of PJT Partners in the 3rd quarter valued at $68,604,000. Azora Capital LP acquired a new position in shares of PJT Partners in the 3rd quarter valued at $40,061,000. Two Sigma Investments LP boosted its holdings in shares of PJT Partners by 390.1% in the 3rd quarter. Two Sigma Investments LP now owns 84,936 shares of the financial services provider’s stock valued at $15,096,000 after buying an additional 67,606 shares in the last quarter. Congress Asset Management Co. boosted its holdings in shares of PJT Partners by 9.9% in the 4th quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider’s stock valued at $97,632,000 after buying an additional 52,548 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after buying an additional 49,046 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PJT shares. Keefe, Bruyette & Woods upped their target price on shares of PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. UBS Group upped their target price on shares of PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $173.33.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $153.79 on Wednesday. The stock has a market cap of $3.97 billion, a P/E ratio of 22.42 and a beta of 0.86. The firm has a fifty day moving average price of $146.69 and a 200 day moving average price of $160.16. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. PJT Partners’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. Sell-side analysts expect that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. PJT Partners’s dividend payout ratio is currently 14.58%.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the sale, the chief financial officer owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by corporate insiders.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.