BGC Partners, Inc. (BGCP) Stake Decreased by Russell Investments Group Ltd.
Russell Investments Group Ltd. reduced its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 1,094,376 shares of the financial services provider’s stock after selling 12,817 shares during the period. Russell Investments Group Ltd.’s holdings in BGC Partners were worth $13,834,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BGCP. Commonwealth Financial Services LLC bought a new position in BGC Partners during the first quarter valued at about $118,000. Regent Investment Management LLC raised its position in BGC Partners by 8.3% in the first quarter. Regent Investment Management LLC now owns 13,000 shares of the financial services provider’s stock valued at $148,000 after buying an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. raised its position in BGC Partners by 31,085.0% in the second quarter. Meeder Asset Management Inc. now owns 12,474 shares of the financial services provider’s stock valued at $158,000 after buying an additional 12,434 shares in the last quarter. Jane Street Group LLC bought a new position in BGC Partners during the first quarter valued at about $164,000. Finally, First Financial Equity Corporation bought a new position in BGC Partners during the first quarter valued at about $164,000. 45.88% of the stock is owned by hedge funds and other institutional investors.
BGC Partners, Inc. (NASDAQ:BGCP) traded down 0.24% during trading on Friday, hitting $12.43. The stock had a trading volume of 858,070 shares. 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 $12.71 and its 200-day moving average is $11.76. The stock has a market capitalization of $3.56 billion, a PE ratio of 31.31 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.24 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.24. BGC Partners had a return on equity of 35.60% and a net margin of 4.23%. The company had revenue of $737.80 million for the quarter, compared to the consensus estimate of $716 million. During the same quarter last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, analysts predict that BGC Partners, Inc. will post $0.99 earnings per share for the current fiscal year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.78%. The ex-dividend date is Thursday, August 10th. BGC Partners’s payout ratio is currently 180.00%.
Several research firms have recently issued reports on BGCP. Zacks Investment Research raised BGC Partners from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Friday, June 30th. BidaskClub lowered BGC Partners from a “buy” rating to a “hold” rating in a research 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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