Trajan Wealth LLC bought a new position in shares of CME Group Inc. (NASDAQ:CME – Free Report) during the 2nd quarter, Holdings Channel reports. The fund bought 33,121 shares of the financial services provider’s stock, valued at approximately $7,314,000.
A number of other institutional investors and hedge funds have also made changes to their positions in CME. BlackRock Inc. acquired a new stake in shares of CME Group in the second quarter valued at about $6,749,965,000. Norges Bank purchased a new stake in CME Group during the fourth quarter worth about $1,523,241,000. Bank of New York Mellon Corp acquired a new position in CME Group during the second quarter worth about $867,313,000. Alphabet Inc. acquired a new position in CME Group during the second quarter worth about $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CME Group in the second quarter valued at about $629,771,000. 87.75% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CME has been the subject of a number of research reports. Morgan Stanley lifted their price target on shares of CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Bank of America upped their price target on CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a report on Thursday, July 23rd. TD Cowen dropped their price objective on CME Group from $323.00 to $273.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Keefe, Bruyette & Woods raised CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price objective for the company in a report on Thursday, June 18th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $320.00 target price on shares of CME Group in a research report on Thursday, July 2nd. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $288.56.
CME Group Price Performance
Shares of NASDAQ:CME opened at $279.17 on Tuesday. The business’s fifty day moving average price is $251.43 and its two-hundred day moving average price is $279.47. The stock has a market cap of $100.38 billion, a PE ratio of 23.68, a price-to-earnings-growth ratio of 3.27 and a beta of 0.23. 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 released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $2.96 earnings per share. CME Group’s revenue was up .8% compared to the same quarter last year. On average, analysts forecast that CME Group Inc. will post 12.27 EPS for the current fiscal year.
CME Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a yield of 1.9%. CME Group’s payout ratio is presently 44.11%.
Insider Transactions at CME Group
In other news, Director William R. Shepard bought 325 shares of CME Group stock in a transaction on 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 acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company 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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