Convergence Investment Partners LLC Invests $1.14 Million in CME Group Inc. (NASDAQ:CME)

Convergence Investment Partners LLC acquired a new position in CME Group Inc. (NASDAQ:CME) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,433 shares of the financial services provider’s stock, valued at approximately $1,144,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CME. OFI Invest Asset Management bought a new stake in shares of CME Group in the 3rd quarter worth $25,000. Harbor Investment Advisory LLC raised its stake in shares of CME Group by 966.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after buying an additional 145 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of CME Group in the 3rd quarter worth $37,000. BKM Wealth Management LLC bought a new stake in shares of CME Group in the 4th quarter worth $38,000. Finally, Atticus Wealth Management LLC acquired a new stake in shares of CME Group during the third quarter worth $40,000. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Down 0.8 %

Shares of CME stock traded down $1.60 on Friday, reaching $210.94. 1,353,130 shares of the company’s stock traded hands, compared to its average volume of 1,722,282. CME Group Inc. has a 12-month low of $175.73 and a 12-month high of $223.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.01. The company has a market capitalization of $75.94 billion, a P/E ratio of 24.00, a price-to-earnings-growth ratio of 5.87 and a beta of 0.49. The business’s 50 day moving average price is $214.73 and its two-hundred day moving average price is $211.87.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, April 24th. The financial services provider reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.06. CME Group had a return on equity of 12.45% and a net margin of 56.84%. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the previous year, the company posted $2.42 earnings per share. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts forecast that CME Group Inc. will post 9.72 earnings per share for the current year.

CME Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a $1.15 dividend. The ex-dividend date was Thursday, March 7th. This represents a $4.60 dividend on an annualized basis and a yield of 2.18%. This is an increase from CME Group’s previous quarterly dividend of $1.10. CME Group’s payout ratio is 52.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CME shares. JPMorgan Chase & Co. boosted their target price on CME Group from $198.00 to $206.00 and gave the stock a “neutral” rating in a research report on Thursday. Bank of America boosted their target price on CME Group from $209.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday. Rosenblatt Securities reaffirmed a “sell” rating and set a $187.00 target price (up from $185.00) on shares of CME Group in a research report on Thursday. Barclays boosted their target price on CME Group from $226.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $210.00 target price (down from $235.00) on shares of CME Group in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $217.80.

CME Group Company Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.