BGC Partners, Inc. (BGCP) Position Raised by Federated Investors Inc. PA
Federated Investors Inc. PA grew its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 1,279.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,031,330 shares of the financial services provider’s stock after purchasing an additional 956,547 shares during the quarter. Federated Investors Inc. PA’s holdings in BGC Partners were worth $11,674,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Meadow Creek Investment Management LLC boosted its holdings in shares of BGC Partners by 79.9% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 35,560 shares of the financial services provider’s stock valued at $402,000 after buying an additional 15,792 shares during the period. Brown Advisory Inc. lifted its position in BGC Partners by 120.4% in the 2nd quarter. Brown Advisory Inc. now owns 126,863 shares of the financial services provider’s stock valued at $1,437,000 after purchasing an additional 69,302 shares during the last quarter. Legal & General Group Plc lifted its position in BGC Partners by 19.5% in the 2nd quarter. Legal & General Group Plc now owns 135,888 shares of the financial services provider’s stock valued at $1,539,000 after purchasing an additional 22,156 shares during the last quarter. BlackRock Inc. lifted its position in BGC Partners by 6.4% in the 2nd quarter. BlackRock Inc. now owns 12,366,022 shares of the financial services provider’s stock valued at $139,983,000 after purchasing an additional 740,051 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in BGC Partners in the 2nd quarter valued at about $127,000. 51.57% of the stock is owned by institutional investors.
In other news, Director William J. Moran acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were purchased at an average cost of $11.09 per share, for a total transaction of $110,900.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 32.80% of the company’s stock.
Shares of NASDAQ:BGCP opened at $12.46 on Wednesday. The stock has a market capitalization of $4.06 billion, a P/E ratio of 9.86 and a beta of 1.01. BGC Partners, Inc. has a fifty-two week low of $10.39 and a fifty-two week high of $16.97. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.14 and a current ratio of 1.16.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.02. The firm had revenue of $960.08 million for the quarter, compared to the consensus estimate of $938.00 million. BGC Partners had a net margin of 1.53% and a return on equity of 46.19%. During the same period last year, the firm posted $0.24 EPS. research analysts expect that BGC Partners, Inc. will post 1.38 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Monday, August 20th will be given a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 17th. This represents a $0.72 annualized dividend and a yield of 5.78%. BGC Partners’s dividend payout ratio is presently 60.00%.
BGC Partners Company Profile
BGC Partners, Inc operates as a brokerage company servicing the financial and real estate markets worldwide. It operates in two segments, Financial Services and Real Estate Services. The Financial Services segment provides brokerage services for fixed income, interest rate derivatives, spot foreign exchange, foreign exchange derivatives, government bonds, corporate bonds, credit derivatives, insurance and money market products, energy, metals, equity derivatives, and structured market data products and services.
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