Martingale Asset Management L P raised its stake in BGC Partners, Inc. (NASDAQ:BGCP) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,625,722 shares of the financial services provider’s stock after acquiring an additional 208,942 shares during the quarter. Martingale Asset Management L P owned about 0.56% of BGC Partners worth $24,565,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its holdings in BGC Partners by 4.3% in the 4th quarter. BlackRock Inc. now owns 11,549,090 shares of the financial services provider’s stock valued at $174,507,000 after acquiring an additional 480,323 shares during the period. Principal Financial Group Inc. raised its holdings 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 valued at $136,552,000 after acquiring an additional 1,515,219 shares during the period. Dimensional Fund Advisors LP raised its holdings in BGC Partners by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,056,614 shares of the financial services provider’s stock valued at $102,102,000 after acquiring an additional 170,701 shares during the period. JPMorgan Chase & Co. raised its holdings in BGC Partners by 1.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,096,684 shares of the financial services provider’s stock valued at $42,424,000 after acquiring an additional 34,975 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in BGC Partners by 8.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,726,751 shares of the financial services provider’s stock valued at $26,092,000 after acquiring an additional 129,749 shares during the period. 43.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on BGCP. ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Friday, December 15th. TheStreet cut shares of BGC Partners from a “b” rating to a “c+” rating in a report on Monday, February 12th. Finally, BGC Financial raised shares of BGC Partners from a “hold” rating to a “buy” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.00.
BGC Partners, Inc. (NASDAQ BGCP) opened at $13.29 on Friday. BGC Partners, Inc. has a fifty-two week low of $10.39 and a fifty-two week high of $16.97. The company has a market cap of $3,818.69, a P/E ratio of 11.91 and a beta of 1.06. The company has a current ratio of 1.32, a quick ratio of 1.31 and a debt-to-equity ratio of 2.97.
BGC Partners (NASDAQ:BGCP) last announced its earnings results on Friday, February 9th. The financial services provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.07. BGC Partners had a net margin of 0.05% and a return on equity of 48.27%. The company had revenue of $894.23 million for the quarter, compared to analysts’ expectations of $853.00 million. During the same period last year, the firm earned $0.25 earnings per share. research analysts predict that BGC Partners, Inc. will post 1.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 13th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.72 annualized dividend and a dividend yield of 5.42%.
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BGC Partners Company 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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