New York State Common Retirement Fund lessened its holdings in BGC Partners, Inc. (NASDAQ:BGCP) by 14.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 238,974 shares of the financial services provider’s stock after selling 39,747 shares during the quarter. New York State Common Retirement Fund owned approximately 0.06% of BGC Partners worth $1,245,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Algebris UK Ltd acquired a new position in BGC Partners in the second quarter worth $1,060,000. Cubist Systematic Strategies LLC boosted its holdings in BGC Partners by 391.6% in the second quarter. Cubist Systematic Strategies LLC now owns 52,719 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 41,996 shares during the period. ProShare Advisors LLC boosted its holdings in BGC Partners by 3.9% in the second quarter. ProShare Advisors LLC now owns 86,051 shares of the financial services provider’s stock worth $488,000 after purchasing an additional 3,267 shares during the period. AQR Capital Management LLC acquired a new position in shares of BGC Partners during the second quarter valued at $126,000. Finally, Nuveen Asset Management LLC boosted its holdings in shares of BGC Partners by 3.4% during the second quarter. Nuveen Asset Management LLC now owns 3,377,202 shares of the financial services provider’s stock valued at $19,149,000 after acquiring an additional 112,129 shares during the period. 55.94% of the stock is owned by hedge funds and other institutional investors.
Shares of BGCP opened at $4.38 on Friday. BGC Partners, Inc. has a 1 year low of $3.52 and a 1 year high of $6.51. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 36.50 and a beta of 1.74. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day moving average of $4.65 and a 200-day moving average of $5.11.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 7th. Investors of record on Tuesday, November 23rd were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, November 22nd. BGC Partners’s dividend payout ratio is currently 33.34%.
Separately, Zacks Investment Research raised shares of BGC Partners from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a report on Monday, January 10th.
BGC Partners Company Profile
BGC Partners, Inc engages in the provision of brokerage services to the financial markets. The firm offers integrated voice, hybrid and fully electronic brokerage in a broad range of products, including fixed income, foreign exchange, equities, insurance, energy and commodities and futures. It also provides trade execution, brokerage, clearing, trade compression, post-trade, information and other back-office services.
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