abrdn plc Has $15.33 Million Holdings in PJT Partners Inc. (NYSE:PJT)

abrdn plc lessened its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 34.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,588 shares of the financial services provider’s stock after selling 50,915 shares during the quarter. abrdn plc owned approximately 0.41% of PJT Partners worth $15,334,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PJT. Quarry LP increased its stake in shares of PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC grew its holdings in PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the last quarter. KBC Group NV increased its position in PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after buying an additional 426 shares during the period. Seneca House Advisors bought a new stake in PJT Partners in the 4th quarter valued at $202,000. Finally, Perigon Wealth Management LLC acquired a new position in shares of PJT Partners in the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction 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 trade represents a 15.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.71% of the company’s stock.

PJT Partners Trading Up 0.1 %

PJT Partners stock opened at $177.10 on Friday. PJT Partners Inc. has a 1 year low of $88.51 and a 1 year high of $190.27. The company’s 50-day moving average is $160.83 and its two-hundred day moving average is $144.28. The company has a market cap of $4.20 billion, a PE ratio of 44.95 and a beta of 0.67.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.19 by $0.71. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $384.64 million. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue for the quarter was up 45.3% compared to the same quarter last year. Research analysts forecast that PJT Partners Inc. will post 4.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, March 5th. PJT Partners’s payout ratio is presently 25.38%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a report on Wednesday. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Citizens Jmp cut PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. 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 an average price target of $158.50.

About PJT Partners

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.