First Trust Advisors LP cut its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 997,640 shares of the financial services provider’s stock after selling 88,986 shares during the period. First Trust Advisors LP’s holdings in BGC Partners were worth $15,074,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of BGC Partners during the 3rd quarter valued at $114,000. PNC Financial Services Group Inc. grew its stake in shares of BGC Partners by 13.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 9,508 shares of the financial services provider’s stock valued at $120,000 after buying an additional 1,100 shares during the period. Miller Howard Investments Inc. NY purchased a new stake in shares of BGC Partners during the 3rd quarter valued at $148,000. B. Riley Financial Inc. purchased a new stake in shares of BGC Partners during the 3rd quarter valued at $153,000. Finally, Calamos Advisors LLC purchased a new stake in BGC Partners during the 3rd quarter worth $165,000. 43.15% of the stock is owned by institutional investors.
Shares of BGC Partners, Inc. (BGCP) opened at $13.03 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 1.45. BGC Partners, Inc. has a 12-month low of $10.39 and a 12-month high of $16.97. The firm has a market cap of $3,804.25, a price-to-earnings ratio of 11.86 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 13th. Investors of record on Tuesday, February 27th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $0.72 dividend on an annualized basis and a yield of 5.53%.
A number of brokerages recently weighed in on BGCP. BidaskClub cut shares of BGC Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, January 9th. ValuEngine cut shares of BGC Partners from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. TheStreet cut shares of BGC Partners from a “b” rating to a “c+” rating in a research report on Monday, February 12th. Finally, BGC Financial raised shares of BGC Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, February 13th. One analyst has rated the stock with a sell rating, two have issued a buy rating and one has given a strong buy rating to the company. BGC Partners presently has an average rating of “Buy” and a consensus target price of $18.00.
BGC Partners 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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