Oppenheimer Asset Management Inc. 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 & Exchange Commission. The firm acquired 14,568 shares of the financial services provider’s stock, valued at approximately $3,217,000.
Other institutional investors have also modified their holdings of the company. Whipplewood Advisors LLC raised its stake in CME Group by 2,075.0% during the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 83 shares in the last quarter. Asset Dedication LLC boosted its stake in CME Group by 64.9% in the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 37 shares in the last quarter. Elkhorn Partners Limited Partnership acquired a new position in CME Group in the fourth quarter valued at $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of CME Group during the fourth quarter worth about $28,000. Finally, Legacy Wealth Managment LLC ID increased its position in shares of CME Group by 191.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.
Wall Street Analyst Weigh In
CME has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped 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, July 23rd. Morgan Stanley increased their price objective on CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Rothschild & Co Redburn upgraded shares of CME Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $316.00 to $323.00 in a research report on Thursday, June 11th. Weiss Ratings cut shares of CME Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday. Finally, Barclays lowered their price objective on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, CME Group presently has a consensus rating of “Hold” and an average price target of $291.81.
CME Group Stock Up 1.0%
Shares of CME Group stock opened at $269.80 on Friday. The company has a market cap of $97.01 billion, a P/E ratio of 22.88, a PEG ratio of 3.14 and a beta of 0.23. The firm has a fifty day moving average of $250.20 and a two-hundred day moving average of $280.22. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16.
CME Group (NASDAQ:CME – Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same period in the prior year, the company posted $2.96 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts forecast that CME Group Inc. will post 12.27 earnings per share for the current year.
CME Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s dividend payout ratio (DPR) is currently 44.11%.
Insider Buying and Selling
In related news, insider Hilda Harris Piell sold 5,753 shares of CME Group stock in a transaction that occurred 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 sale, the insider directly owned 27,702 shares in the company, valued at $8,438,860.26. The trade was a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Shepard purchased 325 shares of the stock in a transaction dated Thursday, June 25th. The shares were bought at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the purchase, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.30% of the stock is owned by insiders.
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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