First Allied Advisory Services Inc. Decreases Position in BGC Partners, Inc. (BGCP)
First Allied Advisory Services Inc. reduced its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 30.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,531 shares of the financial services provider’s stock after selling 7,238 shares during the period. First Allied Advisory Services Inc.’s holdings in BGC Partners were worth $237,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. bought a new position in BGC Partners in the third quarter worth about $114,000. Sei Investments Co. raised its stake in BGC Partners by 47.8% in the second quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,689 shares in the last quarter. Ffcm LLC raised its stake in BGC Partners by 169.5% in the second quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock worth $113,000 after buying an additional 5,598 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in BGC Partners by 13.1% in the second quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock worth $120,000 after buying an additional 1,100 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. bought a new position in BGC Partners in the second quarter worth about $124,000. 43.10% of the stock is owned by institutional investors.
A number of research firms recently issued reports on BGCP. BidaskClub downgraded shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday. ValuEngine downgraded shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Wednesday, October 4th.
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 the Zacks’ consensus estimate of $0.29. The business had revenue of $827.03 million for the quarter. BGC Partners had a net margin of 4.67% and a return on equity of 42.02%.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 29th. Shareholders of record on Tuesday, November 14th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date was Monday, November 13th. BGC Partners’s dividend payout ratio (DPR) is presently 153.19%.
In other BGC Partners news, Director Linda A. Bell sold 13,650 shares of the company’s stock in a transaction dated 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 legal filing with the SEC, which is available at the SEC website. 44.45% of the stock is currently owned by corporate insiders.
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BGC Partners Profile
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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