Kestra Private Wealth Services LLC raised its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 78.7% during the first quarter, Holdings Channel reports. The fund owned 9,466 shares of the financial services provider’s stock after buying an additional 4,169 shares during the period. Kestra Private Wealth Services LLC’s holdings in CME Group were worth $2,796,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Asset Dedication LLC raised its position in CME Group by 64.9% in the 4th quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares during the period. FNY Investment Advisers LLC purchased a new stake in CME Group during the fourth quarter valued at about $27,000. Elkhorn Partners Limited Partnership purchased a new stake in CME Group during the fourth quarter valued at about $27,000. Hilton Head Capital Partners LLC bought a new position in shares of CME Group during the fourth quarter valued at about $28,000. Finally, Legacy Wealth Managment LLC ID grew its stake in shares of CME Group by 191.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock valued at $29,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CME. Erste Group Bank lowered CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Raymond James Financial raised their price target on CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Jefferies Financial Group decreased their price target on CME Group from $356.00 to $349.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Argus reiterated a “hold” rating on shares of CME Group in a research report on Wednesday, March 4th. Finally, Wall Street Zen raised CME Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, CME Group currently has a consensus rating of “Moderate Buy” and an average target price of $302.24.
CME Group Stock Down 1.8%
NASDAQ CME opened at $221.00 on Friday. CME Group Inc. has a 1 year low of $220.73 and a 1 year high of $329.16. The stock has a market capitalization of $80.08 billion, a PE ratio of 18.86, a PEG ratio of 2.47 and a beta of 0.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average is $273.13 and its 200 day moving average is $285.74.
CME Group (NASDAQ:CME – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.25. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company posted $2.80 EPS. CME Group’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that CME Group Inc. will post 12.28 earnings per share for the current year.
CME Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $5.20 annualized dividend and a dividend yield of 2.4%. CME Group’s payout ratio is 44.37%.
Insider Buying and Selling
In related news, CEO Terrence A. Duffy sold 35,000 shares of CME Group stock in a transaction on Friday, May 15th. The shares were sold at an average price of $298.51, for a total value of $10,447,850.00. Following the sale, the chief executive officer owned 55,630 shares in the company, valued at $16,606,111.30. The trade was a 38.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hilda Harris Piell sold 5,753 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $304.63, for a total transaction of $1,752,536.39. Following the transaction, the insider directly owned 27,702 shares in the company, valued at approximately $8,438,860.26. The trade was a 17.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by corporate insiders.
CME Group Company Profile
CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.
The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.
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