Citigroup Inc. Buys 15,135 Shares of PJT Partners Inc. (NYSE:PJT)

Citigroup Inc. lifted its stake in PJT Partners Inc. (NYSE:PJT) by 101.1% during the 3rd quarter, Holdings Channel reports. The firm owned 30,103 shares of the financial services provider’s stock after acquiring an additional 15,135 shares during the period. Citigroup Inc.’s holdings in PJT Partners were worth $4,014,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. SouthState Corp bought a new position in PJT Partners during the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new position in PJT Partners during the second quarter worth about $30,000. GAMMA Investing LLC lifted its holdings in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares in the last quarter. KBC Group NV lifted its holdings in PJT Partners by 113.0% during the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in PJT Partners during the second quarter worth about $204,000. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the transaction, the director now owns 9,100 shares of the company’s stock, valued at $1,453,725. This represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel David Adam Travin sold 1,541 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 over the last three months. Company insiders own 11.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. JMP Securities lifted their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. UBS Group boosted their price target on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $123.80.

PJT Partners Price Performance

NYSE PJT opened at $161.08 on Wednesday. The business has a fifty day moving average price of $148.58 and a two-hundred day moving average price of $127.54. PJT Partners Inc. has a fifty-two week low of $88.51 and a fifty-two week high of $168.92. The stock has a market capitalization of $3.82 billion, a PE ratio of 40.88 and a beta of 0.65.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 earnings per share. As a group, sell-side analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.25 dividend. 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 0.62%. PJT Partners’s payout ratio is 25.38%.

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.