Citigroup Inc. Has $689,000 Stake in Greenhill & Co., Inc. (GHL)
Citigroup Inc. cut its holdings in shares of Greenhill & Co., Inc. (NYSE:GHL) by 28.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 34,305 shares of the financial services provider’s stock after selling 13,701 shares during the period. Citigroup Inc. owned approximately 0.12% of Greenhill & Co. worth $689,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of GHL. State of Alaska Department of Revenue lifted its position 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 worth $152,000 after purchasing an additional 2,345 shares during the period. Mason Street Advisors LLC lifted its position in Greenhill & Co. by 8.2% in the first 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 period. Oppenheimer Asset Management Inc. lifted its position in Greenhill & Co. by 1.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 9,499 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 102 shares during the period. Globeflex Capital L P acquired a new stake in Greenhill & Co. in the first quarter worth approximately $201,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Greenhill & Co. in the first quarter worth approximately $211,000. Institutional investors and hedge funds own 97.12% of the company’s stock.
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Shares of Greenhill & Co., Inc. (NYSE:GHL) opened at 17.10 on Wednesday. The firm has a 50-day moving average price of $15.26 and a 200-day moving average price of $20.30. The firm has a market capitalization of $506.81 million, a P/E ratio of 13.07 and a beta of 1.27. Greenhill & Co., Inc. has a 52-week low of $13.80 and a 52-week high of $32.45.
Greenhill & Co. (NYSE:GHL) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.10). The company had revenue of $67.27 million during the quarter, compared to analyst estimates of $72.25 million. Greenhill & Co. had a net margin of 13.98% and a return on equity of 15.68%. The business’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.62 EPS. On average, equities research analysts anticipate that Greenhill & Co., Inc. will post $0.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 13th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date of this dividend was Tuesday, September 12th. Greenhill & Co.’s dividend payout ratio is currently 135.34%.
Greenhill & Co. announced that its Board of Directors has authorized a share repurchase plan on Monday, September 25th that authorizes the company to repurchase $235.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 55.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have weighed in on the company. Sandler O’Neill downgraded Greenhill & Co. from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $18.00 in a research report on Tuesday. Nomura cut their target price on Greenhill & Co. from $16.00 to $14.00 and set a “reduce” rating for the company in a research report on Tuesday, September 26th. Buckingham Research upped their target price on Greenhill & Co. from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. ValuEngine downgraded Greenhill & Co. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Finally, UBS AG restated a “sell” rating and issued a $9.00 target price (down from $17.00) on shares of Greenhill & Co. in a research report on Monday, August 21st. Six analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has an average rating of “Sell” and an average price target of $18.33.
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.
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