Northern Trust Corp Lowers Stake in BGC Partners, Inc. (BGCP)

Northern Trust Corp lessened its holdings in BGC Partners, Inc. (NASDAQ:BGCP) by 15.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,304,394 shares of the financial services provider’s stock after selling 229,339 shares during the period. Northern Trust Corp owned about 0.40% of BGC Partners worth $14,766,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Guggenheim Capital LLC boosted its stake in BGC Partners by 13.0% in the first quarter. Guggenheim Capital LLC now owns 206,375 shares of the financial services provider’s stock worth $2,775,000 after purchasing an additional 23,699 shares in the last quarter. Xact Kapitalforvaltning AB boosted its stake in BGC Partners by 55.1% in the first quarter. Xact Kapitalforvaltning AB now owns 30,678 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 10,900 shares in the last quarter. Principal Financial Group Inc. boosted its stake in BGC Partners by 19.4% in the first quarter. Principal Financial Group Inc. now owns 10,797,309 shares of the financial services provider’s stock worth $145,224,000 after purchasing an additional 1,755,694 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 worth $24,185,000 after purchasing an additional 643,478 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in BGC Partners by 103.8% in the first quarter. Brown Advisory Inc. now owns 57,561 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 29,323 shares in the last quarter. 51.40% of the stock is owned by hedge funds and other institutional investors.

BGC Partners stock opened at $10.80 on Monday. The company has a current ratio of 1.16, a quick ratio of 1.14 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 9.00 and a beta of 1.19. BGC Partners, Inc. has a 52 week low of $10.08 and a 52 week high of $16.97.

BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The business had revenue of $977.25 million during the quarter, compared to analyst estimates of $969.00 million. BGC Partners had a return on equity of 47.08% and a net margin of 2.49%. Research analysts anticipate that BGC Partners, Inc. will post 1.41 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 7th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date is Tuesday, November 6th. BGC Partners’s dividend payout ratio is currently 60.00%.

In other news, insider Sean Galvin purchased 20,000 shares of the business’s stock in a transaction dated Monday, October 29th. The shares were acquired at an average price of $11.08 per share, with a total value of $221,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 32.80% of the company’s stock.

BGCP has been the topic of a number of recent analyst reports. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research lowered BGC Partners from a “buy” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine raised BGC Partners from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 4th. Finally, Raymond James reduced their price objective on BGC Partners from $17.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $14.00.

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.

Further Reading: Understanding Average Daily Trade Volume

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

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