Great West Life Assurance Co. Can raised its holdings in BGC Partners, Inc. (NASDAQ:BGCP) by 31.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,234 shares of the financial services provider’s stock after purchasing an additional 8,006 shares during the period. Great West Life Assurance Co. Can’s holdings in BGC Partners were worth $164,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank grew its position in shares of BGC Partners by 863.3% in the 3rd quarter. Comerica Bank now owns 99,811 shares of the financial services provider’s stock worth $1,055,000 after buying an additional 89,450 shares during the period. Brown Advisory Inc. boosted its position in shares of BGC Partners by 13.5% in the 3rd quarter. Brown Advisory Inc. now owns 144,014 shares of the financial services provider’s stock worth $1,702,000 after purchasing an additional 17,151 shares in the last quarter. United Services Automobile Association boosted its position in shares of BGC Partners by 20.4% in the 3rd quarter. United Services Automobile Association now owns 277,001 shares of the financial services provider’s stock worth $3,274,000 after purchasing an additional 46,910 shares in the last quarter. King Luther Capital Management Corp grew its stake in shares of BGC Partners by 104.4% in the 3rd quarter. King Luther Capital Management Corp now owns 193,620 shares of the financial services provider’s stock worth $2,289,000 after buying an additional 98,905 shares during the last quarter. Finally, Vident Investment Advisory LLC grew its stake in shares of BGC Partners by 133.6% in the 3rd quarter. Vident Investment Advisory LLC now owns 89,940 shares of the financial services provider’s stock worth $1,063,000 after buying an additional 51,445 shares during the last quarter. 53.27% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Linda A. Bell sold 17,887 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $5.70, for a total value of $101,955.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.80% of the stock is owned by insiders.
A number of brokerages have issued reports on BGCP. Zacks Investment Research cut BGC Partners from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub raised BGC Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Finally, TheStreet downgraded BGC Partners from a “b” rating to a “c+” rating in a report on Wednesday, December 19th. Three analysts have rated the stock with a sell rating and one has given a strong buy rating to the stock. BGC Partners presently has a consensus rating of “Hold” and a consensus price target of $14.00.
NASDAQ:BGCP opened at $5.69 on Friday. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 4.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.23 and a quick ratio of 1.20. BGC Partners, Inc. has a fifty-two week low of $4.93 and a fifty-two week high of $13.99.
BGC Partners (NASDAQ:BGCP) last issued its earnings results on Thursday, February 14th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). BGC Partners had a return on equity of 39.22% and a net margin of 5.82%. The firm had revenue of $466.40 million during the quarter, compared to the consensus estimate of $462.00 million. During the same quarter in the prior year, the company posted $0.12 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that BGC Partners, Inc. will post 0.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.56 annualized dividend and a dividend yield of 9.84%. This is an increase from BGC Partners’s previous quarterly dividend of $0.12. BGC Partners’s dividend payout ratio (DPR) is 77.78%.
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BGC Partners Profile
BGC Partners, Inc operates as a brokerage and financial technology company worldwide. It offers various brokerage products, such as fixed income, foreign exchange, equities, energy and commodities, insurance, and futures. The company also provides other services that include trade execution, broker dealer, clearing, trade compression, post-trade, information, and other back office services to financial and non-financial institutions.
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