Shell Asset Management Co. Sells 554 Shares of PJT Partners Inc. (NYSE:PJT)

Shell Asset Management Co. reduced its position in PJT Partners Inc. (NYSE:PJT – Get Rating) by 16.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,727 shares of the financial services provider’s stock after selling 554 shares during the quarter. Shell Asset Management Co.’s holdings in PJT Partners were worth $201,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. ProShare Advisors LLC acquired a new position in PJT Partners during the fourth quarter worth $224,000. Dfpg Investments LLC bought a new position in shares of PJT Partners in the fourth quarter valued at approximately $684,000. Bank of Montreal Can bought a new position in shares of PJT Partners in the fourth quarter valued at approximately $14,311,000. State of New Jersey Common Pension Fund D purchased a new stake in PJT Partners in the fourth quarter valued at approximately $2,207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in PJT Partners by 5.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,124 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 163 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Helen T. Meates sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $79.88, for a total value of $2,396,400.00. Following the completion of the sale, the chief financial officer now directly owns 47,741 shares in the company, valued at $3,813,551.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.67% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PJT has been the topic of several research reports. JMP Securities lifted their price target on shares of PJT Partners from $86.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Monday, April 10th. StockNews.com assumed coverage on shares of PJT Partners in a report on Thursday, March 16th. They issued a “hold” rating on the stock.

PJT Partners Trading Up 2.2 %

PJT Partners stock opened at $63.00 on Thursday. The firm has a 50 day moving average of $71.69 and a 200 day moving average of $75.16. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 19.81 and a beta of 0.78. PJT Partners Inc. has a 12-month low of $59.61 and a 12-month high of $83.17.

PJT Partners (NYSE:PJT – Get Rating) last posted its earnings results on Tuesday, May 2nd. The financial services provider reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.21). The business had revenue of $200.00 million during the quarter, compared to analysts’ expectations of $228.56 million. PJT Partners had a net margin of 8.39% and a return on equity of 17.00%. The company’s revenue for the quarter was down 18.8% compared to the same quarter last year. During the same period last year, the business posted $1.00 earnings per share. On average, analysts predict that PJT Partners Inc. will post 3.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.59%. PJT Partners’s dividend payout ratio is presently 31.45%.

About PJT Partners

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PJT Partners, Inc is a holding company, which engages in the provision of advisory-investment solutions. It specializes in strategic advisory, shareholder engagement, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments.