Goelzer Investment Management Inc. purchased a new stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 111,443 shares of the financial services provider’s stock, valued at approximately $29,196,000. CME Group makes up 1.2% of Goelzer Investment Management Inc.’s investment portfolio, making the stock its 14th largest holding.
A number of other hedge funds also recently modified their holdings of CME. BlackRock Inc. bought a new stake in CME Group during the 2nd quarter valued at $6,749,965,000. Bank of America Corp DE raised its position in shares of 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 worth $1,187,290,000 after buying an additional 1,130,587 shares in the last quarter. Bank of New York Mellon Corp bought a new position in CME Group in the 2nd quarter worth about $867,313,000. Alphabet Inc. bought a new position in CME Group in the 2nd quarter worth about $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of CME Group during the 2nd quarter valued at about $629,771,000. Institutional investors own 87.75% of the company’s stock.
CME Group Stock Performance
Shares of CME opened at $293.87 on Friday. The company has a market cap of $105.67 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 3.79 and a beta of 0.24. The business’s fifty day simple moving average is $274.12 and its two-hundred day simple moving average is $270.77. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.
CME Group (NASDAQ:CME – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the business earned $2.96 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Research analysts anticipate that CME Group Inc. will post 12.29 earnings per share for the current fiscal year.
CME Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, September 9th. CME Group’s payout ratio is 44.11%.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Raymond James Financial reiterated an “outperform” rating and set a $320.00 price objective on shares of CME Group in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price target on CME Group from $249.00 to $250.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lowered shares of CME Group from a “buy” rating to a “hold” rating and cut their price target for the stock from $286.00 to $270.00 in a report on Wednesday, August 19th. Piper Sandler lowered their price target on CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Finally, Wall Street Zen raised CME Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. Nine research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $292.94.
Read Our Latest Stock Report on CME Group
Insider Transactions at CME Group
In other CME Group news, Director William Shepard acquired 293 shares of the business’s stock in a transaction dated Friday, September 25th. The stock was purchased at an average price of $268.76 per share, with a total value of $78,746.68. Following the transaction, the director directly owned 263,289 shares in the company, valued at approximately $70,761,551.64. The trade was a 0.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Terrence Duffy sold 15,000 shares of the firm’s stock in a transaction on 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 represents a 26.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.30% of the company’s stock.
CME Group 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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