Wellington Management Group LLP Sells 78,324 Shares of PJT Partners Inc. (NYSE:PJT)

Wellington Management Group LLP decreased its holdings in PJT Partners Inc. (NYSE:PJT) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 561,515 shares of the financial services provider’s stock after selling 78,324 shares during the quarter. Wellington Management Group LLP’s holdings in PJT Partners were worth $88,613,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. grew its holdings in shares of PJT Partners by 385.4% during 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 during the period. Quarry LP grew its stake in PJT Partners by 186.3% in the third 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 period. CIBC Private Wealth Group LLC raised its holdings in PJT Partners by 112.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 146 shares in the last quarter. GAMMA Investing LLC lifted its position in PJT Partners by 32.3% during the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock valued at $70,000 after buying an additional 109 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of PJT Partners by 51.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock valued at $82,000 after buying an additional 176 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. Finally, JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $158.50.

PJT Partners Stock Performance

NYSE:PJT opened at $126.01 on Friday. The firm has a 50-day simple moving average of $155.44 and a two-hundred day simple moving average of $153.12. The firm has a market cap of $2.94 billion, a P/E ratio of 25.72 and a beta of 0.77. PJT Partners Inc. has a fifty-two week low of $90.95 and a fifty-two week high of $190.28.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. The company had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm’s revenue for the quarter was up 45.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 EPS. On average, equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Wednesday, March 5th. PJT Partners’s payout ratio is currently 20.41%.

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.