State Street Corp Increases Stake in BGC Partners, Inc. (NASDAQ:BGCP)

State Street Corp boosted its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 2.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,409,057 shares of the financial services provider’s stock after buying an additional 102,825 shares during the period. State Street Corp owned approximately 1.55% of BGC Partners worth $50,085,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of BGC Partners during the fourth quarter worth approximately $18,279,000. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of BGC Partners during the fourth quarter worth approximately $151,000. Teachers Advisors LLC boosted its stake in shares of BGC Partners by 2.2% in the fourth quarter. Teachers Advisors LLC now owns 355,684 shares of the financial services provider’s stock worth $3,639,000 after buying an additional 7,618 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of BGC Partners during the fourth quarter worth approximately $2,693,000. Finally, Raymond James Trust N.A. boosted its stake in shares of BGC Partners by 15.0% in the first quarter. Raymond James Trust N.A. now owns 55,838 shares of the financial services provider’s stock worth $634,000 after buying an additional 7,304 shares during the period. 45.88% of the stock is currently owned by institutional investors and hedge funds.

BGC Partners, Inc. (NASDAQ:BGCP) opened at 12.47 on Friday. BGC Partners, Inc. has a 52-week low of $8.36 and a 52-week high of $13.44. The stock’s 50 day moving average is $12.72 and its 200-day moving average is $11.77. The company has a market cap of $3.57 billion, a PE ratio of 31.41 and a beta of 1.29.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The company had revenue of $737.80 million for the quarter, compared to analysts’ expectations of $716 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. BGC Partners’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that BGC Partners, Inc. will post $0.99 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Investors of record on Monday, August 14th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Thursday, August 10th. BGC Partners’s dividend payout ratio is currently 180.00%.

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A number of equities analysts have recently issued reports on BGCP shares. Zacks Investment Research cut shares of BGC Partners from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 30th. BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th.

About BGC Partners

BGC Partners, Inc (BGC) is a global brokerage company servicing the financial and real estate markets. The Company operates through two segments: Financial Services and Real Estate Services. It provides a range of services, including trade execution, broker-dealer services clearing, trade compression, post trade, information, and other back-office services to a range of financial and non-financial institutions.

Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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