Bessemer Group Inc. Acquires 107,564 Shares of PJT Partners Inc. $PJT

Key Points

• Bessemer Group Inc. sharply increased its stake in PJT Partners by 1,446.5% in the fourth quarter, buying 107,564 additional shares and bringing its total holdings to 115,000 shares worth about $19.2 million.
• Insider selling was also reported: General Counsel David Adam Travin sold 3,000 shares and CFO Helen T. Meates sold 8,000 shares in early May.
• PJT Partners beat quarterly earnings expectations, reporting $1.54 per share on revenue of $418.2 million, while analysts currently hold a consensus rating of “Hold” with a target price of $173.33.

Bessemer Group Inc. lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 1,446.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,000 shares of the financial services provider's stock after purchasing an additional 107,564 shares during the quarter. Bessemer Group Inc. owned 0.47% of PJT Partners worth $19,229,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Congress Asset Management Co. increased its holdings in shares of PJT Partners by 9.9% during the fourth quarter. Congress Asset Management Co. now owns 583,926 shares of the financial services provider's stock worth $97,632,000 after purchasing an additional 52,548 shares during the period. Alliancebernstein L.P. increased its holdings in shares of PJT Partners by 9.8% during the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider's stock worth $87,239,000 after purchasing an additional 47,279 shares during the period. Raymond James Financial Inc. increased its holdings in shares of PJT Partners by 6.7% during the second quarter. Raymond James Financial Inc. now owns 490,566 shares of the financial services provider's stock worth $80,948,000 after purchasing an additional 30,860 shares during the period. Wasatch Advisors LP bought a new position in shares of PJT Partners during the third quarter worth approximately $68,604,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of PJT Partners by 5.6% during the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider's stock worth $51,090,000 after purchasing an additional 19,806 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at PJT Partners

In other PJT Partners 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 value of $457,290.00. Following the sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, the chief financial officer owned 58,466 shares in the company, valued at $8,956,406.54. This represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by corporate insiders.

PJT Partners Price Performance

NYSE PJT opened at $156.33 on Friday. The business has a fifty day moving average price of $146.28 and a two-hundred day moving average price of $160.59. PJT Partners Inc. has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The stock has a market capitalization of $4.04 billion, a PE ratio of 22.79 and a beta of 0.86.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $409.38 million. During the same period in the prior year, the company earned $1.05 earnings per share. The company's quarterly revenue was up 28.9% on a year-over-year basis. As a group, sell-side analysts expect that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen cut shares of PJT Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PJT Partners in a report on Thursday, January 22nd. The Goldman Sachs Group raised shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 target price on the stock in a report on Wednesday, April 1st. UBS Group lifted their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Finally, Zacks Research downgraded shares of PJT Partners from a "hold" rating to a "strong sell" rating in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, PJT Partners presently has a consensus rating of "Hold" and a consensus target price of $173.33.

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.

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