Bessemer Group Inc. Has $19.23 Million Stock Position in PJT Partners Inc. $PJT

Bessemer Group Inc. raised its stake in PJT Partners Inc. (NYSE:PJT) by 1,446.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 115,000 shares of the financial services provider’s stock after buying an additional 107,564 shares during the period. Bessemer Group Inc.’s holdings in PJT Partners were worth $19,229,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PJT. Wasatch Advisors LP acquired a new stake in PJT Partners in the third quarter valued at approximately $68,604,000. Azora Capital LP acquired a new stake in PJT Partners in the third quarter valued at approximately $40,061,000. Two Sigma Investments LP boosted its position in PJT Partners by 390.1% in the third quarter. Two Sigma Investments LP now owns 84,936 shares of the financial services provider’s stock valued at $15,096,000 after buying an additional 67,606 shares in the last quarter. Congress Asset Management Co. lifted 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. Finally, Millennium Management LLC lifted its holdings in shares of PJT Partners by 1,394.5% during the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock worth $7,247,000 after purchasing an additional 49,046 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at PJT Partners

In related 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 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 owned 2,052 shares of the company’s stock, valued at $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the company’s stock in a transaction dated 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 transaction, 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. Company insiders own 10.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PJT shares. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. UBS Group lifted their price target on shares of PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Zacks Research lowered shares of PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. Finally, The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and a consensus price target of $173.33.

PJT Partners Price Performance

NYSE PJT opened at $156.33 on Friday. The business has a 50 day simple moving average of $146.28 and a 200 day simple moving average of $160.59. PJT Partners Inc. has a one year low of $127.73 and a one year high of $195.62. The stock has a market capitalization of $4.04 billion, a P/E ratio of 22.79 and a beta of 0.86.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS 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 business had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. During the same quarter last year, the firm posted $1.05 earnings per share. The firm’s revenue was up 28.9% on a year-over-year basis. Equities analysts expect that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

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

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.