Pictet Asset Management Holding SA increased its position in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 37.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 285,386 shares of the financial services provider’s stock after purchasing an additional 77,148 shares during the period. Pictet Asset Management Holding SA’s holdings in CME Group were worth $84,289,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Dedication LLC lifted its holdings in shares of 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 buying an additional 37 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of CME Group during the fourth quarter valued at $27,000. Elkhorn Partners Limited Partnership bought a new stake in shares of CME Group in the fourth quarter valued at about $27,000. Hilton Head Capital Partners LLC bought a new stake in shares of CME Group in the fourth quarter valued at about $28,000. Finally, Global Wealth Strategies & Associates lifted its stake in CME Group by 1,250.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 108 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 100 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
CME has been the topic of several recent research reports. Raymond James Financial increased their target price on shares of CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Weiss Ratings cut shares of CME Group from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of CME Group from $342.00 to $322.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Piper Sandler set a $320.00 price objective on shares of CME Group in a report on Wednesday, June 17th. Finally, Erste Group Bank downgraded shares of CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $302.24.
Insider Transactions at CME Group
In other news, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $298.51, for a total value of $10,447,850.00. Following the completion of the transaction, the chief executive officer directly owned 55,630 shares in the company, valued at $16,606,111.30. This trade represents a 38.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hilda Harris Piell sold 5,753 shares of CME Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $304.63, for a total value of $1,752,536.39. Following the sale, the insider directly owned 27,702 shares of the company’s stock, valued at $8,438,860.26. This trade represents a 17.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.30% of the company’s stock.
CME Group Price Performance
CME opened at $218.58 on Tuesday. The firm has a market capitalization of $79.20 billion, a PE ratio of 18.65, a price-to-earnings-growth 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 $271.58 and its two-hundred day moving average is $285.49. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16.
CME Group (NASDAQ:CME – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.25. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period last year, the firm earned $2.80 earnings per share. CME Group’s revenue was up 14.5% compared to the same quarter last year. Research analysts anticipate that CME Group Inc. will post 12.28 earnings per share for the current fiscal year.
CME Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were issued a $1.30 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.4%. CME Group’s dividend payout ratio is currently 44.37%.
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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