Natixis acquired a new stake in BGC Partners, Inc. (NASDAQ:BGCP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 223,797 shares of the financial services provider’s stock, valued at approximately $3,010,000. Natixis owned approximately 0.07% of BGC Partners at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. acquired a new position in BGC Partners in the first quarter valued at $702,000. A.R.T. Advisors LLC boosted its stake in BGC Partners by 45.6% in the first quarter. A.R.T. Advisors LLC now owns 305,366 shares of the financial services provider’s stock valued at $4,107,000 after acquiring an additional 95,566 shares in the last quarter. UBS Group AG boosted its stake in BGC Partners by 248.2% in the first quarter. UBS Group AG now owns 1,519,131 shares of the financial services provider’s stock valued at $20,432,000 after acquiring an additional 1,082,829 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in BGC Partners by 55.7% in the first quarter. Allianz Asset Management GmbH now owns 1,798,156 shares of the financial services provider’s stock valued at $24,185,000 after acquiring an additional 643,478 shares in the last quarter. Finally, Cardinal Capital Management LLC CT boosted its stake in BGC Partners by 57.9% in the first quarter. Cardinal Capital Management LLC CT now owns 4,912,286 shares of the financial services provider’s stock valued at $66,070,000 after acquiring an additional 1,800,702 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.
BGCP has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 16th. BidaskClub downgraded shares of BGC Partners from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 9th. Finally, ValuEngine downgraded shares of BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. Three equities research analysts have rated the stock with a sell rating and one has given a buy rating to the company’s stock. BGC Partners presently has an average rating of “Hold” and a consensus price target of $18.00.
Shares of NASDAQ:BGCP opened at $12.41 on Thursday. The stock has a market capitalization of $3.68 billion, a PE ratio of 10.34 and a beta of 1.03. BGC Partners, Inc. has a one year low of $10.65 and a one year high of $16.97. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.14 and a quick ratio of 1.12.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, May 3rd. The financial services provider reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.02. The business had revenue of $956.65 million during the quarter, compared to the consensus estimate of $924.00 million. BGC Partners had a return on equity of 48.64% and a net margin of 1.24%. sell-side analysts predict that BGC Partners, Inc. will post 1.35 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Investors of record on Monday, May 21st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date was Friday, May 18th. BGC Partners’s dividend payout ratio (DPR) is presently 60.00%.
BGC Partners Company Profile
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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