The Manufacturers Life Insurance Company trimmed its holdings in CME Group Inc. (NASDAQ:CME – Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,640 shares of the financial services provider’s stock after selling 16,152 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CME Group were worth $68,120,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of CME Group by 11.5% in the first quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 1,037 shares in the last quarter. Marshall Wace LLP grew its position in CME Group by 103.1% in the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after buying an additional 121,707 shares in the last quarter. Federated Hermes Inc. increased its stake in CME Group by 1,325.2% during the 2nd 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 bought a new stake in shares of CME Group during the 2nd quarter worth about $992,000. Finally, ICW Investment Advisors LLC lifted its stake in shares of CME Group by 6.3% in the 2nd quarter. ICW Investment Advisors LLC now owns 1,304 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 77 shares during the period. Institutional investors own 87.75% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. TD Cowen dropped their target price on CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Raymond James Financial restated an “outperform” rating and issued a $320.00 price objective on shares of CME Group in a report on Thursday, July 2nd. The Goldman Sachs Group dropped their price target on shares of CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Jefferies Financial Group reduced their price objective on shares of CME Group from $356.00 to $349.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Finally, Wall Street Zen downgraded shares of CME Group from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $291.81.
Insider Transactions at CME Group
In related news, insider Hilda Harris Piell sold 5,753 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $304.63, for a total value of $1,752,536.39. Following the completion of the transaction, the insider owned 27,702 shares of the company’s stock, valued at approximately $8,438,860.26. This trade represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Shepard acquired 325 shares of the 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 transaction, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This represents a 0.12% increase in their position. The SEC filing for this purchase provides additional information. 0.30% of the stock is currently owned by insiders.
CME Group Trading Up 2.1%
Shares of NASDAQ CME opened at $265.44 on Thursday. 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 Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The company has a market cap of $96.18 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.03 and a beta of 0.25. The business has a fifty day simple moving average of $251.79 and a 200-day simple moving average of $281.11.
CME Group (NASDAQ:CME – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.CME Group’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.96 EPS. Sell-side analysts predict that CME Group Inc. will post 12.27 EPS for the current year.
CME Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 9th. CME Group’s dividend payout ratio (DPR) is 44.11%.
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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