State of Tennessee Treasury Department Has $504,000 Stake in Greenhill & Co., Inc. (GHL)
State of Tennessee Treasury Department held its position in shares of Greenhill & Co., Inc. (NYSE:GHL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,088 shares of the financial services provider’s stock at the end of the 2nd quarter. State of Tennessee Treasury Department owned 0.08% of Greenhill & Co. worth $504,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Mason Street Advisors LLC grew its position in 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 purchasing an additional 489 shares during the last quarter. Globeflex Capital L P acquired a new position in Greenhill & Co. in the first quarter valued at $201,000. UBS Asset Management Americas Inc. acquired a new position in Greenhill & Co. in the first quarter valued at $211,000. State of Alaska Department of Revenue increased its stake in Greenhill & Co. by 44.5% in the second quarter. State of Alaska Department of Revenue now owns 7,615 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 2,345 shares during the period. Finally, Koch Industries Inc. acquired a new position in Greenhill & Co. in the first quarter valued at $245,000. Hedge funds and other institutional investors own 97.12% of the company’s stock.
Greenhill & Co., Inc. (NYSE:GHL) opened at 16.60 on Monday. The stock has a market capitalization of $491.99 million, a P/E ratio of 12.69 and a beta of 1.27. The stock’s 50 day moving average price is $15.53 and its 200-day moving average price is $21.77. Greenhill & Co., Inc. has a 52 week low of $13.80 and a 52 week high of $32.45.
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 the consensus estimate of $0.30 by ($0.10). Greenhill & Co. had a return on equity of 15.68% and a net margin of 13.98%. The firm had revenue of $67.27 million during the quarter, compared to the consensus estimate of $72.25 million. During the same quarter last year, the company posted $0.62 EPS. Greenhill & Co.’s revenue for the quarter was down 25.7% on a year-over-year basis. Equities research analysts expect that Greenhill & Co., Inc. will post $0.37 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 12th. This represents a $1.80 annualized dividend and a dividend yield of 10.84%. Greenhill & Co.’s dividend payout ratio is presently 135.34%.
Greenhill & Co. announced that its Board of Directors has authorized a stock repurchase 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 buy up to 55.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $21.00 target price on shares of Greenhill & Co. in a research note on Friday, July 14th. Buckingham Research boosted 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. Nomura reduced their price objective on Greenhill & Co. from $16.00 to $14.00 and set a “reduce” rating for the company in a research note on Tuesday, September 26th. ValuEngine downgraded Greenhill & Co. from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 14th. Finally, TheStreet cut Greenhill & Co. from a “b-” rating to a “c+” rating in a research report on Wednesday, June 21st. Seven research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Greenhill & Co. has an average rating of “Sell” and an average price target of $19.67.
Greenhill & Co. Company 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.
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