State of Alaska Department of Revenue Sells 365 Shares of PJT Partners Inc. (NYSE:PJT)

State of Alaska Department of Revenue trimmed its position in PJT Partners Inc. (NYSE:PJT) by 2.7% in the 1st quarter, HoldingsChannel reports. The fund owned 13,133 shares of the financial services provider’s stock after selling 365 shares during the quarter. State of Alaska Department of Revenue’s holdings in PJT Partners were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Securities Inc. increased its holdings in PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc purchased a new stake in PJT Partners in the 1st quarter worth approximately $30,000. CIBC Private Wealth Group LLC increased its holdings in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 146 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in PJT Partners in the 1st quarter worth approximately $39,000. Finally, PNC Financial Services Group Inc. increased its holdings in PJT Partners by 51.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 176 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the transaction, the director now owns 8,847 shares in the company, valued at $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. 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 5,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total transaction of $708,700.00. Following the transaction, the general counsel now owns 2,288 shares of the company’s stock, valued at $324,301.12. This trade represents a 68.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,000 shares of company stock worth $3,722,082 in the last three months. 11.75% of the stock is owned by company insiders.

PJT Partners Price Performance

PJT stock opened at $160.25 on Tuesday. PJT Partners Inc. has a 1-year low of $104.01 and a 1-year high of $190.28. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 28.26 and a beta of 0.74. The business has a 50 day simple moving average of $146.03 and a two-hundred day simple moving average of $151.55.

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 the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. The business had revenue of $324.50 million during the quarter, compared to the consensus estimate of $361.26 million. During the same period in the prior year, the company posted $0.98 EPS. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Sell-side analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.62%. PJT Partners’s payout ratio is 17.64%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their target price on shares of PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a report on Monday, May 12th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $154.50.

PJT Partners Company 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.