Wedmont Private Capital boosted its position in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 131.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,082 shares of the financial services provider’s stock after buying an additional 4,583 shares during the period. Wedmont Private Capital’s holdings in CME Group were worth $2,117,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of CME Group during the 2nd quarter worth approximately $6,749,965,000. State Street Corp increased its stake in CME Group by 0.4% in the fourth quarter. State Street Corp now owns 16,144,525 shares of the financial services provider’s stock valued at $4,408,747,000 after acquiring an additional 56,725 shares during the last quarter. Bank of America Corp DE raised its position in CME Group by 39.1% during the first quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider’s stock valued at $1,187,290,000 after purchasing an additional 1,130,587 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in CME Group during the second quarter valued at approximately $867,313,000. Finally, Alphabet Inc. acquired a new position in CME Group during the second quarter valued at approximately $769,376,000. 87.75% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other CME Group news, CEO Terrence Duffy sold 15,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $274.44, for a total value of $4,116,600.00. Following the completion of the transaction, the chief executive officer directly owned 40,630 shares in the company, valued at approximately $11,150,497.20. This trade represents a 26.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Shepard purchased 293 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of $268.76 per share, for a total transaction of $78,746.68. Following the completion of the purchase, the director directly owned 263,289 shares of the company’s stock, valued at approximately $70,761,551.64. This represents a 0.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.30% of the company’s stock.
CME Group Stock Performance
CME Group (NASDAQ:CME – Get Free Report) last announced 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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the business earned $2.96 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that CME Group Inc. will post 12.28 earnings per share for the current fiscal year.
CME Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 9th. CME Group’s dividend payout ratio is presently 44.11%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Wells Fargo & Company initiated coverage on CME Group in a report on Friday, October 2nd. They issued an “overweight” rating and a $301.00 target price on the stock. UBS Group boosted their price target on CME Group from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. upped their price objective on CME Group from $249.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods raised CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price objective on the stock in a research note on Thursday, June 18th. Finally, The Goldman Sachs Group decreased their target price on CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, CME Group has a consensus rating of “Hold” and an average price target of $292.06.
Read Our Latest Stock Analysis on CME Group
CME Group Company Profile
CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.
The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.
CME Group’s history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.
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