Bessemer Group Inc. Reduces Holdings in BGC Partners, Inc. (BGCP)
Bessemer Group Inc. lessened its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,400 shares of the financial services provider’s stock after selling 11,831 shares during the period. Bessemer Group Inc.’s holdings in BGC Partners were worth $1,163,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BGCP. Swiss National Bank lifted its holdings in shares of BGC Partners by 1.9% in the 3rd quarter. Swiss National Bank now owns 355,408 shares of the financial services provider’s stock valued at $5,143,000 after acquiring an additional 6,500 shares during the last quarter. Principal Financial Group Inc. raised its position in BGC Partners by 19.1% in the 3rd quarter. Principal Financial Group Inc. now owns 9,436,839 shares of the financial services provider’s stock worth $136,552,000 after purchasing an additional 1,515,219 shares during the period. USA Financial Portformulas Corp raised its position in BGC Partners by 67.3% in the 3rd quarter. USA Financial Portformulas Corp now owns 81,773 shares of the financial services provider’s stock worth $1,183,000 after purchasing an additional 32,895 shares during the period. American Century Companies Inc. purchased a new stake in BGC Partners in the 3rd quarter worth about $1,188,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in BGC Partners in the 3rd quarter worth about $148,000. 42.66% of the stock is owned by institutional investors and hedge funds.
Shares of BGC Partners, Inc. (NASDAQ BGCP) opened at $15.37 on Thursday. 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, Inc. has a 1 year low of $9.63 and a 1 year high of $16.51. The firm has a market cap of $4,372.82, a PE ratio of 15.12 and a beta of 1.29.
BGC Partners (NASDAQ:BGCP) last posted 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 company 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Monday, November 13th. BGC Partners’s dividend payout ratio (DPR) is presently 153.19%.
A number of research firms recently weighed in on BGCP. Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 price objective on the stock in a research report on Wednesday, October 4th. ValuEngine lowered shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, BidaskClub raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th.
In other news, Director Linda A. Bell sold 13,650 shares of the firm’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 transaction of $200,655.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.40% of the company’s stock.
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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