Royal Bank of Canada Sells 20,524 Shares of BGC Partners, Inc. (BGCP)
Royal Bank of Canada cut its stake in shares of BGC Partners, Inc. (NASDAQ:BGCP) by 39.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,613 shares of the financial services provider’s stock after selling 20,524 shares during the quarter. Royal Bank of Canada’s holdings in BGC Partners were worth $400,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Sei Investments Co. lifted its holdings in BGC Partners by 47.8% during the 2nd quarter. Sei Investments Co. now owns 8,312 shares of the financial services provider’s stock worth $105,000 after buying an additional 2,689 shares during the period. Ffcm LLC lifted its holdings in BGC Partners by 169.5% during the 2nd quarter. Ffcm LLC now owns 8,901 shares of the financial services provider’s stock worth $113,000 after buying an additional 5,598 shares during the period. PNC Financial Services Group Inc. lifted its holdings in 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 worth $120,000 after buying an additional 1,100 shares during the period. Bronfman E.L. Rothschild L.P. acquired a new position in BGC Partners during the 2nd quarter worth about $124,000. Finally, Comerica Bank acquired a new position in BGC Partners during the 2nd quarter worth about $135,000. 42.66% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, Director Linda A. Bell sold 13,650 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $14.70, for a total value of $200,655.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 37.40% of the stock is owned by insiders.
BGC Partners, Inc. (BGCP) opened at $15.37 on Thursday. The company has a market capitalization of $4,372.82, a PE ratio of 15.12 and a beta of 1.29. BGC Partners, Inc. has a twelve month low of $9.63 and a twelve month high of $16.51. 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 Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $827.03 million for the quarter. BGC Partners had a return on equity of 42.02% and a net margin of 4.67%.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Stockholders of record on Tuesday, November 14th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, November 13th. BGC Partners’s dividend payout ratio is 153.19%.
Several research analysts have commented on BGCP shares. ValuEngine downgraded BGC Partners from a “strong-buy” rating to a “buy” rating in a report on Monday, October 2nd. BidaskClub raised BGC Partners from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Zacks Investment Research downgraded BGC Partners from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
About BGC Partners
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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