Principal Financial Group Inc. boosted its stake in Greenhill & Co., Inc. (NYSE:GHL) by 18.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 247,675 shares of the financial services provider’s stock after buying an additional 38,618 shares during the period. Principal Financial Group Inc. owned 0.84% of Greenhill & Co. worth $4,978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its position in Greenhill & Co. by 44.5% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,615 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 2,345 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Greenhill & Co. by 8.2% during the 1st quarter. Mason Street Advisors LLC now owns 6,432 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 489 shares during the period. Globeflex Capital L P purchased a new position in shares of Greenhill & Co. during the 1st quarter worth approximately $201,000. UBS Asset Management Americas Inc. purchased a new position in shares of Greenhill & Co. during the 1st quarter worth approximately $211,000. Finally, Municipal Employees Retirement System of Michigan grew its holdings in shares of Greenhill & Co. by 83.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,390 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 5,170 shares during the period. Institutional investors and hedge funds own 97.12% of the company’s stock.

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Greenhill & Co., Inc. (NYSE:GHL) opened at 16.60 on Wednesday. The stock’s 50 day moving average is $15.13 and its 200 day moving average is $20.74. Greenhill & Co., Inc. has a 12-month low of $13.80 and a 12-month high of $32.45. The stock has a market capitalization of $491.99 million, a price-to-earnings ratio of 12.69 and a beta of 1.27.

Greenhill & Co. (NYSE:GHL) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.10). Greenhill & Co. had a net margin of 13.98% and a return on equity of 15.68%. The business had revenue of $67.27 million for the quarter, compared to analysts’ expectations of $72.25 million. During the same period last year, the business posted $0.62 EPS. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. Equities analysts predict that Greenhill & Co., Inc. will post $0.29 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th were given a $0.45 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 10.84%. Greenhill & Co.’s payout ratio is presently 135.34%.

Greenhill & Co. declared that its Board of Directors has initiated a stock buyback plan on Monday, September 25th that allows the company to buyback $235.00 million in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 55.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several brokerages have recently issued reports on GHL. ValuEngine lowered Greenhill & Co. from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 14th. TheStreet cut Greenhill & Co. from a “b-” rating to a “c+” rating in a research note on Wednesday, June 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $21.00 price target on shares of Greenhill & Co. in a research report on Friday, July 14th. Buckingham Research lifted their price target on Greenhill & Co. from $15.00 to $18.00 and gave the company a “neutral” rating in a research report on Tuesday, September 26th. Finally, Nomura reduced their price target on Greenhill & Co. from $16.00 to $14.00 and set a “reduce” rating on the stock in a research note on Tuesday, September 26th. Seven research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Greenhill & Co. currently has an average rating of “Sell” and a consensus target price of $19.67.

Greenhill & Co. Profile

Greenhill & Co, Inc is an investment bank. The Company provides financial and strategic advice on domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to a diverse client base, including corporations, partnerships, institutions and governments globally.

Institutional Ownership by Quarter for Greenhill & Co. (NYSE:GHL)

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