Wellington Management Group LLP Trims Stock Holdings in PJT Partners Inc. (NYSE:PJT)

Wellington Management Group LLP reduced its position in shares of PJT Partners Inc. (NYSE:PJT) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 639,839 shares of the financial services provider’s stock after selling 16,756 shares during the quarter. Wellington Management Group LLP’s holdings in PJT Partners were worth $85,316,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors increased its holdings in PJT Partners by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock worth $420,000 after purchasing an additional 67 shares during the period. Louisiana State Employees Retirement System increased its holdings in PJT Partners by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 100 shares during the period. New York State Teachers Retirement System increased its holdings in PJT Partners by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 100 shares during the period. American Century Companies Inc. increased its holdings in PJT Partners by 0.8% during the 2nd quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock worth $1,601,000 after purchasing an additional 120 shares during the period. Finally, AQR Capital Management LLC increased its holdings in PJT Partners by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 136 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

PJT Partners stock opened at $158.45 on Wednesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 40.22 and a beta of 0.65. PJT Partners Inc. has a 1-year low of $88.51 and a 1-year high of $168.92. The business has a fifty day moving average price of $151.29 and a 200-day moving average price of $129.51.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, equities research analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.63%. PJT Partners’s dividend payout ratio is currently 25.38%.

Insiders Place Their Bets

In other news, Director James Costos sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. The trade was a 13.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PJT. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities lifted their price target on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PJT Partners presently has an average rating of “Hold” and a consensus price target of $134.80.

PJT Partners 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.