VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CME Group Inc. (NASDAQ:CME – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 166,400 shares of the financial services provider’s stock, valued at approximately $36,746,000.
A number of other institutional investors have also made changes to their positions in CME. California State Teachers Retirement System boosted its position in CME Group by 21,954.4% during the second quarter. California State Teachers Retirement System now owns 131,243,023 shares of the financial services provider’s stock worth $28,982,397,000 after purchasing an additional 130,647,934 shares during the period. BlackRock Inc. bought a new stake in shares of CME Group during the 2nd quarter worth about $6,749,965,000. Norges Bank bought a new position in CME Group in the 4th quarter valued at about $1,523,241,000. Bank of New York Mellon Corp bought a new position in CME Group in the 2nd quarter valued at about $867,313,000. Finally, Alphabet Inc. acquired a new stake in CME Group during the 2nd quarter worth approximately $769,376,000. 87.75% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several analysts have weighed in on CME shares. Wall Street Zen upgraded shares of CME Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 29th. Erste Group Bank cut CME Group from a “buy” rating to a “hold” rating in a report on Friday, June 5th. The Goldman Sachs Group dropped their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Keefe, Bruyette & Woods raised CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, June 18th. Finally, UBS Group cut their price target on shares of CME Group from $310.00 to $260.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $289.75.
Insider Activity at CME Group
In other CME Group news, Director William Shepard bought 325 shares of the stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the acquisition, the director directly owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. The trade was a 0.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by insiders.
CME Group Stock Performance
Shares of CME Group stock opened at $281.29 on Tuesday. The stock has a 50 day moving average price of $260.01 and a two-hundred day moving average price of $278.05. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $101.15 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24.
CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $2.96 EPS. CME Group’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts anticipate that CME Group Inc. will post 12.27 earnings per share for the current fiscal year.
CME Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.8%. CME Group’s payout ratio is presently 44.11%.
About CME Group
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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