BGC Partners said on February 27, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.
Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 31, 2023.
At the current share price of $5.04 / share, the stock's dividend yield is 0.79%. Looking back five years and taking a sample every week, the average dividend yield has been 5.00%, the lowest has been 0.63%, and the highest has been 20.00%. The standard deviation of yields is 4.78 (n=237).
The current dividend yield is 0.88 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.30. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.93%.
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Analyst Price Forecast Suggests 56.85% Upside
As of March 3, 2023, the average one-year price target for BGC Partners is $7.90. The forecasts range from a low of $7.07 to a high of $8.92. The average price target represents an increase of 56.85% from its latest reported closing price of $5.04.
The projected annual revenue for BGC Partners is $1,987MM, an increase of 14.37%. The projected annual non-GAAP EPS is $0.87.
What is the Fund Sentiment?
There are 412 funds or institutions reporting positions in BGC Partners. This is an increase of 19 owner(s) or 4.83% in the last quarter. Average portfolio weight of all funds dedicated to BGCP is 0.14%, an increase of 22.76%. Total shares owned by institutions increased in the last three months by 2.78% to 232,638K shares. The put/call ratio of BGCP is 0.25, indicating a bullish outlook.
What are large shareholders doing?
Rubric Capital Management holds 18,250K shares representing 4.93% ownership of the company. No change in the last quarter.
Cardinal Capital Management holds 15,004K shares representing 4.05% ownership of the company. In it's prior filing, the firm reported owning 15,474K shares, representing a decrease of 3.13%. The firm increased its portfolio allocation in BGCP by 9.21% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 10,163K shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 10,019K shares, representing an increase of 1.41%. The firm increased its portfolio allocation in BGCP by 12.46% over the last quarter.
Philosophy Capital Management holds 9,851K shares representing 2.66% ownership of the company. In it's prior filing, the firm reported owning 9,158K shares, representing an increase of 7.04%. The firm increased its portfolio allocation in BGCP by 55.72% over the last quarter.
AltraVue Capital holds 9,442K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 8,417K shares, representing an increase of 10.86%. The firm decreased its portfolio allocation in BGCP by 40.13% over the last quarter.
BGC Partners Background Information
(This description is provided by the company.)
BGC Partners is a leading global brokerage and financial technology company. BGC specializes in the brokerage of a broad range of products, including fixed income (rates and credit), foreign exchange, equities, energy and commodities, shipping, insurance, and futures. BGC also provides a wide variety of services, including trade execution, brokerage, clearing, trade compression, post-trade, information, and other back-office services to a broad range of financial and non-financial institutions. Through brands including Fenics, BGC Trader, Capitalab, Lucera, and Fenics Market Data, BGC offers financial technology solutions, market data, and analytics related to numerous financial instruments and markets. BGC, BGC Trader, GFI, Fenics, Fenics Market Data, Capitalab, and Lucera are trademarks/service marks and/or registered trademarks/service marks of BGC Partners, Inc. and/or its affiliates. BGC's customers include many of the world's largest banks, broker-dealers, investment banks, trading firms, hedge funds, governments, corporations, and investment firms. BGC's Class A common stock trades on the NASDAQ Global Select Market under the ticker symbol 'BGCP'. BGC Partners is led by Chairman of the Board and Chief Executive Officer Howard W. Lutnick.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
