Columbus Macro LLC bought a new stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 24,899 shares of the financial services provider’s stock, valued at approximately $6,523,000.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new position in CME Group in the 2nd quarter worth approximately $6,749,965,000. Bank of America Corp DE grew its position in CME Group by 39.1% in 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 acquiring an additional 1,130,587 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in CME Group in the second quarter valued at approximately $867,313,000. Alphabet Inc. acquired a new stake in CME Group in the second quarter valued at approximately $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CME Group in the second quarter valued at approximately $629,771,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at CME Group
In other news, CEO Terrence A. Duffy sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $274.44, for a total transaction of $4,116,600.00. Following the completion of the sale, the chief executive officer owned 40,630 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William R. Shepard purchased 293 shares of the company’s stock in a transaction that occurred on Friday, September 25th. The stock was bought at an average price of $268.76 per share, with a total value of $78,746.68. Following the purchase, the director owned 263,289 shares of the company’s stock, valued at approximately $70,761,551.64. The trade was a 0.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.
CME Group Stock Up 2.7%
CME Group (NASDAQ:CME – Get Free Report) last issued 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 return on equity of 15.60% and a net margin of 63.30%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business posted $2.96 earnings per share. CME Group’s revenue for the quarter was up .8% on a year-over-year basis. As a group, sell-side analysts expect that CME Group Inc. will post 12.29 EPS for the current year.
CME Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, September 9th. CME Group’s dividend payout ratio is presently 44.11%.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of CME Group from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Monday, October 5th. Barclays upped their target price on shares of CME Group from $270.00 to $281.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Keefe, Bruyette & Woods raised shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a report on Thursday, June 18th. Morgan Stanley raised their price target on shares of CME Group from $330.00 to $337.00 and gave the company an “overweight” rating in a report on Friday, October 9th. Finally, Bank of America lifted their price target on shares of CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a research note on Thursday, July 23rd. 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’s stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Hold” and an average price target of $292.94.
Get Our Latest Stock Report on CME
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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