PJT Partners Inc. $PJT Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in PJT Partners Inc. (NYSE:PJT) by 12.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,908 shares of the financial services provider’s stock after selling 14,092 shares during the period. Bessemer Group Inc.’s holdings in PJT Partners were worth $14,100,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PJT. Allworth Financial LP grew its holdings in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after buying an additional 133 shares in the last quarter. State of Wyoming acquired a new position in shares of PJT Partners in the second quarter valued at approximately $63,000. Kestra Advisory Services LLC purchased a new position in shares of PJT Partners during the fourth quarter valued at approximately $65,000. Quadrant Capital Group LLC purchased a new position in shares of PJT Partners during the third quarter valued at approximately $90,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in PJT Partners by 2,338.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 491 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PJT Partners

In other news, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is owned by insiders.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $166.33 on Friday. The firm has a market capitalization of $4.30 billion, a PE ratio of 24.25 and a beta of 0.85. The business has a 50-day moving average of $157.24 and a two-hundred day moving average of $156.94. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.03. The company had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company’s quarterly revenue was up 28.9% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. As a group, research analysts anticipate that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. PJT Partners’s payout ratio is currently 14.58%.

Wall Street Analyst Weigh In

PJT has been the subject of several recent analyst reports. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group increased their price target on PJT Partners from $160.00 to $162.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research report on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods raised their price target on PJT Partners from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $175.33.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.