Summit Global Investments lessened its stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 34.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,795 shares of the financial services provider’s stock after selling 3,513 shares during the period. Summit Global Investments’ holdings in CME Group were worth $2,007,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of CME. SG Americas Securities LLC grew its holdings in CME Group by 345.2% in the 4th quarter. SG Americas Securities LLC now owns 237,898 shares of the financial services provider’s stock valued at $64,965,000 after buying an additional 184,459 shares in the last quarter. FLC Capital Advisors purchased a new position in shares of CME Group during the 4th quarter worth $2,122,000. First Bank & Trust acquired a new position in shares of CME Group during the 4th quarter valued at about $1,325,000. Mn Services Vermogensbeheer B.V. boosted its position in shares of CME Group by 2.9% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 140,210 shares of the financial services provider’s stock valued at $38,289,000 after acquiring an additional 3,931 shares during the last quarter. Finally, MOKAN Wealth Management Inc. grew its holdings in shares of CME Group by 138.8% in the fourth quarter. MOKAN Wealth Management Inc. now owns 7,144 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 4,152 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at CME Group
In other CME Group news, insider Hilda Harris Piell sold 5,753 shares of the business’s stock in a transaction that occurred on 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 owned 27,702 shares of the company’s stock, valued at $8,438,860.26. The trade was a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Shepard purchased 325 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the purchase, the director directly owned 260,442 shares of the company’s stock, valued at $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.30% of the company’s stock.
CME Group Stock Up 0.0%
CME Group (NASDAQ:CME – Get Free Report) last posted its 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. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.77 billion. CME Group had a net margin of 63.19% and a return on equity of 15.42%. CME Group’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.80 earnings per share. Sell-side analysts expect that CME Group Inc. will post 12.18 EPS for the current year.
CME Group Announces Dividend
The business 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. This represents a $5.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 9th. CME Group’s dividend payout ratio is currently 44.37%.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on the stock. Barclays cut their price objective on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Morgan Stanley dropped their price target on shares of CME Group from $353.00 to $324.00 and set an “overweight” rating for the company in a research note on Friday, July 10th. Keefe, Bruyette & Woods upgraded shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, June 18th. Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $316.00 to $323.00 in a research report on Thursday, June 11th. Finally, The Goldman Sachs Group decreased their price objective on CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $292.12.
Read Our Latest Research Report on CME
CME Group 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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