PJT Partners Inc. (NYSE:PJT) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its position in PJT Partners Inc. (NYSE:PJT) by 18.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,526 shares of the financial services provider’s stock after selling 342 shares during the quarter. Glenmede Trust Co. NA’s holdings in PJT Partners were worth $203,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SouthState Corp purchased a new stake in shares of PJT Partners during the second quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of PJT Partners during the second quarter worth approximately $30,000. GAMMA Investing LLC raised its stake in shares of 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 purchasing an additional 146 shares during the last quarter. KBC Group NV raised its stake in shares of 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 purchasing an additional 426 shares during the last quarter. Finally, OLD National Bancorp IN purchased a new stake in shares of PJT Partners during the second quarter worth approximately $204,000. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Performance

NYSE:PJT opened at $164.21 on Friday. The stock has a fifty day moving average price of $150.28 and a two-hundred day moving average price of $128.43. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 41.68 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.

PJT Partners (NYSE:PJT) last released its quarterly earnings data 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 firm had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. PJT Partners’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, analysts predict that PJT Partners Inc. will post 4.4 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Analyst Ratings Changes

PJT has been the subject of several analyst reports. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and upped their price target for the stock from $130.00 to $175.00 in a research note on Friday. JMP Securities upped their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, PJT Partners currently has an average rating of “Hold” and an average target price of $134.80.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Costos sold 1,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock valued at $762,980. Insiders own 11.71% of the company’s stock.

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.