State Street Corp increased 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 1.55% of BGC Partners worth $50,085,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in shares of BGC Partners by 66,726.9% in the first quarter. BlackRock Inc. now owns 14,384,491 shares of the financial services provider’s stock valued at $163,409,000 after buying an additional 14,362,966 shares during the period. Norges Bank bought a new stake in shares of BGC Partners during the fourth quarter valued at approximately $18,279,000. Vanguard Group Inc. raised its stake in shares of BGC Partners by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,310,093 shares of the financial services provider’s stock valued at $208,003,000 after buying an additional 1,214,964 shares during the period. Renaissance Technologies LLC raised its stake in shares of BGC Partners by 160.1% in the first quarter. Renaissance Technologies LLC now owns 1,332,648 shares of the financial services provider’s stock valued at $15,139,000 after buying an additional 820,200 shares during the period. Finally, Edge Asset Management Inc. raised its stake in shares of BGC Partners by 19.5% in the first quarter. Edge Asset Management Inc. now owns 4,260,061 shares of the financial services provider’s stock valued at $48,394,000 after buying an additional 694,519 shares during the period. 48.41% of the stock is currently owned by hedge funds and other institutional investors.
BGC Partners, Inc. (NASDAQ:BGCP) traded down 1.03% during trading on Friday, hitting $12.51. 1,724,805 shares of the stock traded hands. BGC Partners, Inc. has a 12 month low of $8.36 and a 12 month high of $13.44. The firm has a 50-day moving average price of $12.80 and a 200 day moving average price of $11.83. The firm has a market cap of $3.58 billion, a PE ratio of 31.51 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 for the quarter, hitting the consensus estimate of $0.24. BGC Partners had a net margin of 4.23% and a return on equity of 35.60%. The firm had revenue of $737.80 million during the quarter, compared to analysts’ expectations of $716 million. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that BGC Partners, Inc. will post $0.99 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 28th. Stockholders of record on Monday, August 14th will be given a $0.18 dividend. The ex-dividend date is Thursday, August 10th. This represents a $0.72 annualized dividend and a dividend yield of 5.76%. BGC Partners’s payout ratio is presently 180.00%.
Several analysts have commented on BGCP shares. Zacks Investment Research lowered shares of BGC Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 30th. BidaskClub lowered shares of BGC Partners from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd.
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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