United Capital Financial Advisors LLC acquired a new position in shares of CME Group Inc. (NASDAQ:CME – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,570 shares of the financial services provider’s stock, valued at approximately $9,842,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in CME Group in the 2nd quarter worth approximately $6,749,965,000. State Street Corp increased its position in CME Group by 0.4% in the fourth quarter. State Street Corp now owns 16,144,525 shares of the financial services provider’s stock worth $4,408,747,000 after purchasing an additional 56,725 shares during the period. Norges Bank acquired a new stake in CME Group in the fourth quarter worth about $1,523,241,000. Bank of New York Mellon Corp raised its holdings in CME Group by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider’s stock worth $1,344,776,000 after purchasing an additional 134,242 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in CME Group by 5.4% during the 4th quarter. Raymond James Financial Inc. now owns 4,319,763 shares of the financial services provider’s stock worth $1,179,858,000 after purchasing an additional 222,890 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on CME shares. Erste Group Bank lowered shares of CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Piper Sandler dropped their price target on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. The Goldman Sachs Group cut their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Bank of America raised their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research note on Thursday, July 23rd. Finally, Weiss Ratings cut shares of CME Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $288.56.
CME Group Trading Down 0.0%
Shares of NASDAQ CME opened at $280.94 on Friday. CME Group Inc. has a twelve month low of $218.31 and a twelve month high of $329.16. The stock has a market cap of $101.02 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 3.34 and a beta of 0.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company’s fifty day moving average is $253.01 and its 200-day moving average is $279.09.
CME Group (NASDAQ:CME – Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.96 EPS. Equities research analysts predict that CME Group Inc. will post 12.27 EPS for the current year.
CME Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s payout ratio is currently 44.11%.
Insider Activity
In other CME Group news, Director William R. Shepard purchased 325 shares of the stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the purchase, the director owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.
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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