Northern Trust Corp Trims Stake in Greenhill & Co., Inc. (GHL)

Northern Trust Corp trimmed its holdings in Greenhill & Co., Inc. (NYSE:GHL) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 341,286 shares of the financial services provider’s stock after selling 10,002 shares during the period. Northern Trust Corp owned 1.15% of Greenhill & Co. worth $6,860,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in GHL. State of Alaska Department of Revenue raised its holdings in shares of 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 buying an additional 2,345 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of 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 valued at $191,000 after buying an additional 102 shares during the last quarter. UBS Asset Management Americas Inc. purchased a new stake in shares of Greenhill & Co. in the first quarter valued at about $211,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Greenhill & Co. by 83.1% in the second quarter. Municipal Employees Retirement System of Michigan now owns 11,390 shares of the financial services provider’s stock valued at $228,000 after buying an additional 5,170 shares during the last quarter. Finally, OppenheimerFunds Inc. purchased a new stake in shares of Greenhill & Co. in the first quarter valued at about $254,000. 95.57% of the stock is owned by institutional investors and hedge funds.

Greenhill & Co., Inc. (GHL) opened at $18.95 on Monday. Greenhill & Co., Inc. has a one year low of $13.80 and a one year high of $32.45. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.32. The stock has a market cap of $497.69, a PE ratio of 23.69 and a beta of 1.27.

Greenhill & Co. (NYSE:GHL) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.25). Greenhill & Co. had a return on equity of 8.88% and a net margin of 8.49%. The firm had revenue of $48.09 million for the quarter, compared to analyst estimates of $38.33 million. During the same quarter last year, the firm earned $0.41 earnings per share. The company’s revenue was down 37.2% compared to the same quarter last year. research analysts predict that Greenhill & Co., Inc. will post 0.05 EPS for the current year.

Greenhill & Co. declared that its Board of Directors has authorized a stock repurchase program on Monday, September 25th that authorizes the company to buyback $235.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 55.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.06%. Greenhill & Co.’s dividend payout ratio (DPR) is 243.24%.

A number of brokerages have recently commented on GHL. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $17.00 target price on shares of Greenhill & Co. in a report on Thursday, October 19th. Nomura reduced their target price on shares of Greenhill & Co. from $16.00 to $14.00 and set a “reduce” rating for the company in a report on Tuesday, September 26th. Buckingham Research upped their target price on shares of Greenhill & Co. from $15.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, September 26th. Sandler O’Neill cut shares of Greenhill & Co. from a “buy” rating to a “hold” rating and reduced their target price for the company from $25.00 to $18.00 in a report on Tuesday, October 10th. Finally, UBS AG reaffirmed a “sell” rating and issued a $9.00 target price (down from $17.00) on shares of Greenhill & Co. in a report on Monday, August 21st. Six research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has an average rating of “Sell” and an average target price of $16.67.

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About Greenhill & Co.

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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