PNC Financial Services Group Inc. Has $52.30 Million Stock Holdings in CME Group Inc. $CME

PNC Financial Services Group Inc. boosted its position in CME Group Inc. (NASDAQ:CMEFree Report) by 4.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,061 shares of the financial services provider’s stock after acquiring an additional 7,786 shares during the quarter. PNC Financial Services Group Inc.’s holdings in CME Group were worth $52,295,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of CME Group in the 4th quarter valued at $1,523,241,000. Victory Capital Management Inc. raised its holdings in shares of CME Group by 746.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,049,649 shares of the financial services provider’s stock worth $559,720,000 after buying an additional 1,807,491 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of CME Group during the 4th quarter worth $217,656,000. Viking Global Investors LP bought a new stake in shares of CME Group during the 2nd quarter worth $164,648,000. Finally, Vanguard Group Inc. lifted its position in shares of CME Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 35,895,583 shares of the financial services provider’s stock worth $9,802,366,000 after buying an additional 588,509 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CME Group

In other CME Group news, Director William R. Shepard bought 325 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the acquisition, the director directly owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. The trade was a 0.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction 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 approximately $16,606,111.30. The trade was a 38.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.

CME Group Stock Up 2.0%

Shares of NASDAQ:CME opened at $254.32 on Friday. The business has a fifty day simple moving average of $255.00 and a 200 day simple moving average of $281.41. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16. The firm has a market cap of $92.16 billion, a P/E ratio of 21.57, a P/E/G ratio of 3.10 and a beta of 0.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CMEGet Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The business’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.96 EPS. Analysts predict that CME Group Inc. will post 12.17 earnings per share for the current year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were issued a dividend of $1.30 per share. The ex-dividend date was Tuesday, June 9th. This represents a $5.20 annualized dividend and a yield of 2.0%. CME Group’s dividend payout ratio is presently 44.11%.

More CME Group News

Here are the key news stories impacting CME Group this week:

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CME shares. JPMorgan Chase & Co. lifted their target price on CME Group from $249.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America increased their target price on shares of CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a report on Thursday. Weiss Ratings downgraded shares of CME Group from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of CME Group from $342.00 to $322.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $320.00 price objective on shares of CME Group in a research report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $291.81.

Get Our Latest Analysis on CME Group

CME Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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