Los Angeles Capital Management & Equity Research Inc. raised its holdings in BGC Partners, Inc. (NASDAQ:BGCP) by 24.1% during the third quarter, Holdings Channel reports. The institutional investor owned 371,615 shares of the financial services provider’s stock after acquiring an additional 72,055 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in BGC Partners were worth $4,392,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings 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 buying an additional 740,051 shares during the last quarter. Principal Financial Group Inc. grew its holdings in BGC Partners by 19.4% in the 1st quarter. Principal Financial Group Inc. now owns 10,797,309 shares of the financial services provider’s stock valued at $145,224,000 after buying an additional 1,755,694 shares during the last quarter. Renaissance Technologies LLC grew its holdings in BGC Partners by 15.0% in the 2nd quarter. Renaissance Technologies LLC now owns 6,754,148 shares of the financial services provider’s stock valued at $76,457,000 after buying an additional 882,400 shares during the last quarter. Raymond James & Associates grew its holdings in BGC Partners by 149.8% in the 2nd quarter. Raymond James & Associates now owns 5,583,444 shares of the financial services provider’s stock valued at $63,205,000 after buying an additional 3,348,709 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in BGC Partners by 23.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 1,308,580 shares of the financial services provider’s stock valued at $14,813,000 after buying an additional 247,607 shares during the last quarter. 51.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BGCP stock opened at $10.65 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.70. BGC Partners, Inc. has a 12 month low of $10.08 and a 12 month high of $16.97. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.54 and a beta of 1.19.

BGC Partners (NASDAQ:BGCP) last announced its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.42 EPS for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). BGC Partners had a return on equity of 43.44% and a net margin of 2.49%. The firm had revenue of $977.25 million during the quarter, compared to the consensus estimate of $969.00 million. On average, equities research analysts forecast that BGC Partners, Inc. will post 1.41 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 6th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.76%. BGC Partners’s dividend payout ratio is currently 60.00%.

In other news, insider Sean Galvin acquired 20,000 shares of BGC Partners stock in a transaction on Monday, October 29th. The stock was bought at an average price of $11.08 per share, for a total transaction of $221,600.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 32.80% of the stock is currently owned by company insiders.

A number of research firms have issued reports on BGCP. BidaskClub raised BGC Partners from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Zacks Investment Research lowered BGC Partners from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Raymond James lowered their target price on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Friday, October 26th. Finally, ValuEngine raised BGC Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $14.00.

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About BGC Partners

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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Institutional Ownership by Quarter for BGC Partners (NASDAQ:BGCP)

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