Magellan Asset Management Ltd Grows Stock Position in CME Group Inc. $CME

Magellan Asset Management Ltd grew its position in CME Group Inc. (NASDAQ:CMEFree Report) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 652,160 shares of the financial services provider’s stock after acquiring an additional 6,524 shares during the quarter. CME Group comprises 2.2% of Magellan Asset Management Ltd’s holdings, making the stock its 17th largest position. Magellan Asset Management Ltd owned 0.18% of CME Group worth $178,092,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. West Family Investments Inc. lifted its position in CME Group by 1.2% during the third quarter. West Family Investments Inc. now owns 3,062 shares of the financial services provider’s stock worth $827,000 after buying an additional 37 shares in the last quarter. Asset Dedication LLC lifted its position in CME Group by 64.9% during the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after buying an additional 37 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its position in CME Group by 0.3% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,523 shares of the financial services provider’s stock worth $3,147,000 after buying an additional 37 shares in the last quarter. Rehmann Capital Advisory Group lifted its position in CME Group by 4.3% during the third quarter. Rehmann Capital Advisory Group now owns 898 shares of the financial services provider’s stock worth $243,000 after buying an additional 37 shares in the last quarter. Finally, 1248 Management LLC lifted its position in CME Group by 26.8% during the third quarter. 1248 Management LLC now owns 180 shares of the financial services provider’s stock worth $49,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In related news, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was 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 of the company’s stock, valued at $16,606,111.30. The trade was a 38.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $304.63, for a total value of $1,752,536.39. Following the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders sold 44,044 shares of company stock valued at $13,297,507 in the last three months. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CME shares. Wall Street Zen downgraded CME Group from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Deutsche Bank Aktiengesellschaft cut their target price on CME Group from $342.00 to $322.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Barclays cut their target price on CME Group from $343.00 to $316.00 and set an “equal weight” rating for the company in a research note on Thursday, April 23rd. Argus reissued a “hold” rating on shares of CME Group in a research note on Wednesday, March 4th. Finally, UBS Group reissued a “neutral” rating and set a $310.00 target price on shares of CME Group in a research note on Friday, February 6th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $305.29.

View Our Latest Stock Report on CME

CME Group Trading Up 1.4%

Shares of NASDAQ CME opened at $256.06 on Friday. CME Group Inc. has a twelve month low of $244.56 and a twelve month high of $329.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a fifty day simple moving average of $289.08 and a 200-day simple moving average of $288.82. The stock has a market capitalization of $92.79 billion, a PE ratio of 21.85, a PEG ratio of 2.82 and a beta of 0.21.

CME Group (NASDAQ:CMEGet Free Report) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 EPS for the quarter, topping the consensus estimate of $3.11 by $0.25. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm posted $2.80 EPS. CME Group’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities analysts forecast that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, June 9th. CME Group’s payout ratio is presently 44.37%.

About CME Group

(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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