Bank of America Corp DE Lowers Stake in Burford Capital Limited (NYSE:BUR)

Bank of America Corp DE lessened its holdings in shares of Burford Capital Limited (NYSE:BUR - Free Report) by 13.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,969 shares of the company's stock after selling 105,592 shares during the period. Bank of America Corp DE owned about 0.30% of Burford Capital worth $8,504,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. BNP Paribas Financial Markets purchased a new position in shares of Burford Capital during the fourth quarter valued at approximately $335,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of Burford Capital during the fourth quarter valued at approximately $167,000. Lido Advisors LLC purchased a new stake in shares of Burford Capital in the fourth quarter valued at approximately $180,000. Northern Trust Corp boosted its holdings in shares of Burford Capital by 5.7% in the fourth quarter. Northern Trust Corp now owns 1,256,636 shares of the company's stock valued at $16,022,000 after purchasing an additional 67,929 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Burford Capital by 0.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 91,025 shares of the company's stock valued at $1,166,000 after purchasing an additional 676 shares during the period.

Burford Capital Stock Up 1.1%

Shares of BUR traded up $0.15 during midday trading on Thursday, reaching $13.03. 1,193,974 shares of the stock were exchanged, compared to its average volume of 973,101. The company has a market capitalization of $2.85 billion, a P/E ratio of 11.23 and a beta of 0.70. The company has a current ratio of 15.75, a quick ratio of 15.75 and a debt-to-equity ratio of 0.54. Burford Capital Limited has a 52 week low of $11.17 and a 52 week high of $15.73. The company's 50 day moving average is $13.41 and its two-hundred day moving average is $13.64.

Burford Capital (NYSE:BUR - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.16). The firm had revenue of $118.86 million during the quarter, compared to the consensus estimate of $157.00 million. Burford Capital had a net margin of 34.81% and a return on equity of 8.07%. On average, sell-side analysts anticipate that Burford Capital Limited will post 1.28 earnings per share for the current year.

Burford Capital Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 23rd will be issued a dividend of $0.0625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a yield of 1.8%. Burford Capital's dividend payout ratio is currently 12.90%.

About Burford Capital

Burford Capital Limited provides legal finance products and services worldwide. The company operates through two segments, Capital Provision, and Asset Management and Other Provision. The Capital Provision segment provides capital to the legal industry or in connection with legal matters directly and through investment in private funds; legal risk management services; lower risk legal finance business focusing on pre-settlement litigation matters with lower risk and lower expected returns; post-settlement finance; and complex strategies in which it acts as a principal and acquires assets that are mispriced.