PNC Financial Services Group Inc. grew its stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 169,275 shares of the financial services provider’s stock after acquiring an additional 5,662 shares during the period. PNC Financial Services Group Inc.’s holdings in CME Group were worth $46,226,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of CME. Empowered Funds LLC raised its stake in shares of CME Group by 11.5% during the first quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock valued at $2,660,000 after acquiring an additional 1,037 shares in the last quarter. Marshall Wace LLP raised its stake in shares of CME Group by 103.1% during the second quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 121,707 shares in the last quarter. Federated Hermes Inc. increased its holdings in CME Group by 1,325.2% during the second quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after buying an additional 21,918 shares during the period. Nebula Research & Development LLC purchased a new position in CME Group during the second quarter valued at approximately $992,000. Finally, The Manufacturers Life Insurance Company increased its holdings in CME Group by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock valued at $79,344,000 after buying an additional 7,397 shares during the period. Institutional investors own 87.75% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the stock. Weiss Ratings raised shares of CME Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. lifted their price objective on shares of CME Group from $266.00 to $271.00 and gave the company an “underweight” rating in a report on Thursday, April 16th. Erste Group Bank raised shares of CME Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft cut their price objective 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, Morgan Stanley cut their price objective on shares of CME Group from $362.00 to $353.00 and set an “overweight” rating on the stock in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.29.
Insider Activity at CME Group
In other news, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer directly owned 55,630 shares of the company’s stock, valued at $16,606,111.30. The trade was a 38.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the insider directly owned 27,702 shares in the company, valued at $8,438,860.26. This trade represents a 17.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,244 shares of company stock valued at $14,598,037 over the last three months. 0.30% of the stock is owned by corporate insiders.
CME Group Price Performance
Shares of CME opened at $289.29 on Friday. The firm has a market capitalization of $104.83 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 3.51 and a beta of 0.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 1-year low of $257.17 and a 1-year high of $329.16. The company’s fifty day moving average price is $296.62 and its 200-day moving average price is $289.10.
CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.25. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.80 earnings per share. On average, equities research analysts predict that CME Group Inc. will post 12.26 EPS for the current year.
CME Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. CME Group’s payout ratio is 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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