Loomis Sayles & Co. L P Sells 11,438 Shares of PJT Partners Inc. (NYSE:PJT)

Loomis Sayles & Co. L P lessened its holdings in PJT Partners Inc. (NYSE:PJT) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 492,809 shares of the financial services provider’s stock after selling 11,438 shares during the period. Loomis Sayles & Co. L P’s holdings in PJT Partners were worth $65,711,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its holdings in PJT Partners by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 100 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of PJT Partners by 0.9% in the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock valued at $1,425,000 after buying an additional 100 shares during the period. American Century Companies Inc. raised its holdings in PJT Partners by 0.8% in the 2nd quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 120 shares during the last quarter. AQR Capital Management LLC boosted its position in PJT Partners by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $454,000 after buying an additional 136 shares during the period. Finally, Sei Investments Co. grew its holdings in PJT Partners by 1.4% during the 2nd quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock worth $1,129,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 58.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,352 shares of company stock worth $3,382,235 in the last ninety days. Corporate insiders own 11.71% of the company’s stock.

PJT Partners Trading Up 1.2 %

Shares of PJT opened at $162.79 on Monday. The firm’s fifty day simple moving average is $144.06 and its two-hundred day simple moving average is $124.36. PJT Partners Inc. has a 12 month low of $84.57 and a 12 month high of $163.85. The stock has a market capitalization of $3.86 billion, a P/E ratio of 41.32 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. As a group, research analysts predict that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is 25.38%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PJT. The Goldman Sachs Group raised their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. JMP Securities raised their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Finally, UBS Group increased their price target on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.80.

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.