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

Wellington Management Group LLP reduced its stake in PJT Partners Inc. (NYSE:PJT) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 561,515 shares of the financial services provider’s stock after selling 78,324 shares during the period. Wellington Management Group LLP owned approximately 2.37% of PJT Partners worth $88,613,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. FMR LLC grew its stake in PJT Partners by 10.9% during the third quarter. FMR LLC now owns 417,271 shares of the financial services provider’s stock valued at $55,639,000 after acquiring an additional 41,007 shares in the last quarter. Captrust Financial Advisors grew its position in shares of PJT Partners by 2.2% during the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock valued at $420,000 after purchasing an additional 67 shares in the last quarter. Quarry LP increased its holdings in shares of 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. Quadrature Capital Ltd purchased a new stake in shares of PJT Partners in the third quarter worth $393,000. Finally, Stifel Financial Corp boosted its stake in PJT Partners by 23.7% during the third quarter. Stifel Financial Corp now owns 7,249 shares of the financial services provider’s stock valued at $967,000 after buying an additional 1,387 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Performance

Shares of PJT opened at $126.01 on Friday. PJT Partners Inc. has a fifty-two week low of $90.95 and a fifty-two week high of $190.28. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 25.72 and a beta of 0.77. The firm has a 50 day moving average price of $155.44 and a 200-day moving average price of $153.12.

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

PJT Partners Dividend Announcement

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

Analyst Ratings Changes

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

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.