Brown Advisory Inc. Has $681,000 Stake in BGC Partners, Inc. (BGCP)
Brown Advisory Inc. lifted its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 30.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,093 shares of the financial services provider’s stock after purchasing an additional 11,007 shares during the quarter. Brown Advisory Inc.’s holdings in BGC Partners were worth $681,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas boosted its position in shares of BGC Partners by 2.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 16,668 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 375 shares in the last quarter. Airain ltd bought a new stake in shares of BGC Partners in the 2nd quarter worth approximately $1,943,000. Engineers Gate Manager LP boosted its position in shares of BGC Partners by 755.1% in the 2nd quarter. Engineers Gate Manager LP now owns 191,541 shares of the financial services provider’s stock worth $2,421,000 after purchasing an additional 169,142 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of BGC Partners by 247.8% in the 2nd quarter. Principal Financial Group Inc. now owns 7,921,620 shares of the financial services provider’s stock worth $100,129,000 after purchasing an additional 5,643,875 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of BGC Partners by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,619,070 shares of the financial services provider’s stock worth $235,346,000 after purchasing an additional 308,977 shares in the last quarter. 43.10% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Linda A. Bell sold 13,650 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 44.45% of the stock is owned by insiders.
A number of analysts have recently commented on BGCP shares. ValuEngine raised BGC Partners from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective for the company in a report on Wednesday, October 4th. Finally, BidaskClub upgraded shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th.
BGC Partners, Inc. (NASDAQ BGCP) opened at $16.68 on Friday. BGC Partners, Inc. has a 1-year low of $9.91 and a 1-year high of $16.90. The firm has a market cap of $4,821.02, a P/E ratio of 16.52 and a beta of 1.27. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.32 and a quick ratio of 1.31.
BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%. The company had revenue of $827.03 million during the quarter.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Investors of record on Tuesday, November 14th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, November 13th. This represents a $0.72 dividend on an annualized basis and a yield of 4.32%. BGC Partners’s payout ratio is currently 153.19%.
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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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