Fifth Third Bancorp Acquires 12,974 Shares of PJT Partners Inc. $PJT

Fifth Third Bancorp lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 25,948.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 13,024 shares of the financial services provider’s stock after acquiring an additional 12,974 shares during the period. Fifth Third Bancorp’s holdings in PJT Partners were worth $1,820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PJT. JPMorgan Chase & Co. grew its holdings in PJT Partners by 28.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock worth $19,631,000 after acquiring an additional 24,502 shares during the period. Jackson Creek Investment Advisors LLC bought a new stake in shares of PJT Partners during the 4th quarter valued at $1,373,000. Bessemer Group Inc. lifted its stake in shares of PJT Partners by 1,446.5% in the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock valued at $19,229,000 after purchasing an additional 107,564 shares during the period. Kornitzer Capital Management Inc. KS lifted its stake in shares of PJT Partners by 28.8% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after purchasing an additional 7,830 shares during the period. Finally, TimesSquare Capital Management LLC boosted its position in shares of PJT Partners by 8.0% in the 4th quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock worth $23,825,000 after purchasing an additional 10,570 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred 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 sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by company insiders.

PJT Partners Stock Performance

NYSE:PJT opened at $163.92 on Thursday. The stock has a 50-day simple moving average of $157.90 and a 200 day simple moving average of $156.78. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The company has a market cap of $4.23 billion, a PE ratio of 23.90 and a beta of 0.85.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on PJT. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $175.00 to $185.00 and gave the stock an “outperform” rating in a research note on Friday, July 10th. UBS Group increased their target price on PJT Partners from $160.00 to $162.00 and gave the company 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. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a research report on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $175.33.

PJT Partners Company Profile

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.