TNB Financial reduced its position in BGC Partners, Inc. (NASDAQ:BGCP) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,121 shares of the financial services provider’s stock after selling 1,379 shares during the period. TNB Financial’s holdings in BGC Partners were worth $419,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. Jane Street Group LLC purchased a new stake in BGC Partners during the first quarter worth $164,000. Wells Fargo & Company MN increased its stake in BGC Partners by 17.4% in the first quarter. Wells Fargo & Company MN now owns 567,501 shares of the financial services provider’s stock worth $6,446,000 after buying an additional 84,031 shares during the period. American International Group Inc. increased its stake in BGC Partners by 5.4% in the first quarter. American International Group Inc. now owns 131,940 shares of the financial services provider’s stock worth $1,499,000 after buying an additional 6,710 shares during the last quarter. Two Sigma Securities LLC bought a new stake in BGC Partners during the first quarter worth $220,000. Finally, TFS Capital LLC increased its stake in BGC Partners by 142.9% in the first quarter. TFS Capital LLC now owns 31,119 shares of the financial services provider’s stock worth $354,000 after buying an additional 18,305 shares during the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.
BGC Partners, Inc. (NASDAQ:BGCP) opened at 12.47 on Friday. The company has a market cap of $3.57 billion, a PE ratio of 31.41 and a beta of 1.29. BGC Partners, Inc. has a 1-year low of $8.36 and a 1-year high of $13.44. The stock has a 50 day moving average of $12.71 and a 200-day moving average of $11.76.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.24. The business had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $716 million. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.21 EPS. On average, equities research analysts predict that BGC Partners, Inc. will post $0.99 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Shareholders of record on Monday, August 14th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.72 annualized dividend and a yield of 5.77%. BGC Partners’s payout ratio is currently 180.00%.
A number of equities research analysts have weighed in on BGCP shares. Zacks Investment Research raised BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Friday, June 30th. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a report on Friday, July 7th.
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.
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