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

Bessemer Group Inc. reduced its stake in PJT Partners Inc. (NYSE:PJT) by 12.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,908 shares of the financial services provider’s stock after selling 14,092 shares during the quarter. Bessemer Group Inc. owned 0.42% of PJT Partners worth $14,100,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PJT. Allworth Financial LP lifted 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 purchasing an additional 133 shares during the period. State of Wyoming purchased a new position in PJT Partners in the 2nd quarter valued at $63,000. Kestra Advisory Services LLC acquired a new position in PJT Partners in the 4th quarter valued at $65,000. Exchange Traded Concepts LLC acquired a new stake in shares of PJT Partners in the 4th quarter worth $86,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in shares of PJT Partners by 2,338.1% in the 4th 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 period. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Down 0.5%

NYSE:PJT opened at $166.33 on Friday. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The stock has a fifty day simple moving average of $157.24 and a 200-day simple moving average of $156.94. The company has a market capitalization of $4.30 billion, a PE ratio of 24.25 and a beta of 0.85.

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

PJT Partners Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insider Activity at PJT Partners

In other news, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $312,786.36. This trade represents a 59.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The stock was 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 $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by corporate insiders.

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.