Todays Report: The Principal Financial Group Inc. Acquires 41,195 Shares of BGC Partners Inc. (BGCP)

The Principal Financial Group Inc. Acquires 41,195 Shares of BGC Partners Inc. (BGCP)

Principal Financial Group Inc. raised its stake in shares of BGC Partners Inc. (NASDAQ:BGCP) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,205,621 shares of the company’s stock after buying an additional 41,195 shares during the period. Principal Financial Group Inc. owned about 0.44% of BGC Partners worth $10,501,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of BGC Partners by 138.1% in the first quarter. BlackRock Inc. now owns 12,083 shares of the company’s stock valued at $109,000 after buying an additional 7,008 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of BGC Partners during the first quarter valued at approximately $126,000. Fox Run Management L.L.C. acquired a new stake in shares of BGC Partners during the second quarter valued at approximately $123,000. BLB&B Advisors LLC boosted its stake in shares of BGC Partners by 46.3% in the second quarter. BLB&B Advisors LLC now owns 14,910 shares of the company’s stock valued at $130,000 after buying an additional 4,720 shares during the last quarter. Finally, IMS Capital Management boosted its stake in shares of BGC Partners by 0.3% in the second quarter. IMS Capital Management now owns 16,022 shares of the company’s stock valued at $140,000 after buying an additional 52 shares during the last quarter. Institutional investors own 38.79% of the company’s stock.

Shares of BGC Partners Inc. (NASDAQ:BGCP) opened at 8.75 on Friday. The company has a 50 day moving average of $8.87 and a 200-day moving average of $8.94. The company has a market cap of $2.42 billion, a PE ratio of 18.12 and a beta of 1.33. BGC Partners Inc. has a 52-week low of $8.18 and a 52-week high of $9.90.

BGC Partners (NASDAQ:BGCP) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. The business had revenue of $652 million for the quarter, compared to analyst estimates of $665.70 million. BGC Partners had a net margin of 5.01% and a return on equity of 24.31%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.18 EPS. Analysts forecast that BGC Partners Inc. will post $0.84 EPS for the current fiscal year.

Separately, Zacks Investment Research cut shares of BGC Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, July 1st.

BGC Partners Company Profile

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