Edge Wealth Management LLC increased its position in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 38.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,150 shares of the financial services provider’s stock after purchasing an additional 7,000 shares during the quarter. Edge Wealth Management LLC’s holdings in BGC Partners were worth $121,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in BGCP. Norges Bank bought a new stake in BGC Partners during the fourth quarter worth about $16,039,000. Morgan Stanley boosted its holdings in shares of BGC Partners by 68.0% in the 4th quarter. Morgan Stanley now owns 5,109,444 shares of the financial services provider’s stock worth $20,438,000 after acquiring an additional 2,068,753 shares in the last quarter. BlackRock Inc. grew its position in BGC Partners by 10.3% during the 4th quarter. BlackRock Inc. now owns 22,000,823 shares of the financial services provider’s stock worth $88,003,000 after acquiring an additional 2,047,772 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in BGC Partners during the 4th quarter valued at $7,756,000. Finally, Nuveen Asset Management LLC raised its position in BGC Partners by 135.6% in the 4th quarter. Nuveen Asset Management LLC now owns 3,091,416 shares of the financial services provider’s stock valued at $12,365,000 after purchasing an additional 1,779,420 shares during the last quarter. 45.67% of the stock is owned by hedge funds and other institutional investors.
Separately, Zacks Investment Research lowered BGC Partners from a “buy” rating to a “hold” rating in a research note on Friday, February 19th.
BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings data on Tuesday, February 23rd. The financial services provider reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $479.43 million for the quarter, compared to the consensus estimate of $470.95 million. BGC Partners had a return on equity of 40.10% and a net margin of 2.21%. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, sell-side analysts predict that BGC Partners, Inc. will post 0.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 30th. Investors of record on Tuesday, March 16th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, March 15th. This represents a $0.04 dividend on an annualized basis and a yield of 0.70%. BGC Partners’s payout ratio is 6.56%.
About BGC Partners
BGC Partners, Inc operates as a brokerage and financial technology company in the United States, Canada, Europe, the United Kingdom, Latin America, Asia, Africa, the Middle East, and internationally. It offers various brokerage products, such as fixed income, such as government bonds, corporate bonds, and other debt instruments, as well as related interest rate derivatives and credit derivatives; and fixed income, equity derivatives and cash equities, energy and commodities, shipping, insurance, and futures and options.
Further Reading: Trading Ex-Dividend Strategy
Receive News & Ratings for BGC Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BGC Partners and related companies with MarketBeat.com's FREE daily email newsletter.