Envestnet Asset Management Inc. Sells 1,580 Shares of PJT Partners Inc. (NYSE:PJT)

Envestnet Asset Management Inc. lessened its position in PJT Partners Inc. (NYSE:PJT – Get Rating) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,835 shares of the financial services provider’s stock after selling 1,580 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of PJT Partners worth $1,683,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC lifted its stake in PJT Partners by 0.3% in the first quarter. Clearbridge Investments LLC now owns 989,074 shares of the financial services provider’s stock valued at $62,430,000 after buying an additional 3,407 shares in the last quarter. Alliancebernstein L.P. boosted its stake in PJT Partners by 12.2% in the 3rd quarter. Alliancebernstein L.P. now owns 848,913 shares of the financial services provider’s stock worth $56,724,000 after purchasing an additional 92,315 shares during the period. Goldman Sachs Group Inc. increased its holdings in PJT Partners by 9.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 541,208 shares of the financial services provider’s stock worth $38,036,000 after purchasing an additional 47,572 shares in the last quarter. State Street Corp raised its stake in shares of PJT Partners by 1.8% in the 3rd quarter. State Street Corp now owns 518,906 shares of the financial services provider’s stock valued at $34,673,000 after purchasing an additional 9,395 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in shares of PJT Partners by 10.9% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 268,231 shares of the financial services provider’s stock valued at $17,923,000 after purchasing an additional 26,357 shares during the period. 70.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PJT has been the subject of a number of research reports. StockNews.com began coverage on PJT Partners in a report on Thursday. They set a “hold” rating for the company. JMP Securities lifted their price objective on shares of PJT Partners from $86.00 to $88.00 and gave the company a “market outperform” rating in a report on Monday, April 10th.

PJT Partners Price Performance

Shares of NYSE PJT opened at $65.15 on Monday. The business has a 50-day moving average of $69.96 and a 200-day moving average of $74.72. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 20.49 and a beta of 0.78. PJT Partners Inc. has a fifty-two week low of $59.61 and a fifty-two week high of $83.17.

PJT Partners (NYSE:PJT – Get Rating) last posted its quarterly 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). PJT Partners had a net margin of 8.39% and a return on equity of 17.00%. The company had revenue of $200.00 million during the quarter, compared to the consensus estimate of $228.56 million. During the same quarter in the prior year, the business earned $1.00 earnings per share. The firm’s revenue for the quarter was down 18.8% compared to the same quarter last year. On average, sell-side analysts expect that PJT Partners Inc. will post 3.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Wednesday, June 7th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, June 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. PJT Partners’s payout ratio is 31.45%.

PJT Partners Profile

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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.