Vontobel Holding Ltd. lessened its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 63.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 452,914 shares of the financial services provider’s stock after selling 777,731 shares during the quarter. Vontobel Holding Ltd.’s holdings in CME Group were worth $117,814,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CME. BlackRock Inc. acquired a new stake in shares of CME Group in the 2nd quarter worth about $6,749,965,000. Bank of America Corp DE boosted its position in CME Group by 39.1% during the 1st 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 acquiring an additional 1,130,587 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of CME Group during the second quarter worth $867,313,000. Alphabet Inc. acquired a new stake in shares of CME Group in the 2nd quarter valued at $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CME Group during the second quarter worth approximately $629,771,000. Institutional investors and hedge funds own 87.75% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on CME. The Goldman Sachs Group lowered their price objective 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. Wells Fargo & Company lifted their price target on shares of CME Group from $301.00 to $315.00 and gave the company an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of CME Group from a “buy” rating to a “hold” rating and dropped their price target for the stock from $286.00 to $270.00 in a research report on Wednesday, August 19th. Piper Sandler lowered their target price on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $320.00 price target on shares of CME Group in a research note on Thursday, July 2nd. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $292.94.
Check Out Our Latest Research Report on CME
CME Group Price Performance
Shares of CME traded up $4.41 during midday trading on Friday, reaching $293.87. The stock had a trading volume of 2,180,230 shares, compared to its average volume of 1,887,081. The company has a market capitalization of $105.67 billion, a price-to-earnings ratio of 24.93, a price-to-earnings-growth ratio of 3.79 and a beta of 0.24. The company’s 50-day moving average is $274.12 and its 200 day 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 announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The company’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.96 EPS. On average, equities analysts predict that CME Group Inc. will post 12.29 EPS for the current fiscal 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 issued a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. CME Group’s dividend payout ratio (DPR) is presently 44.11%.
Insider Activity
In other CME Group news, CEO Terrence Duffy sold 15,000 shares of the business’s stock in a transaction 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 directly owned 40,630 shares in the company, valued at approximately $11,150,497.20. The trade was a 26.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizabeth Cook sold 500 shares of CME Group stock in a transaction on Monday, September 14th. The stock was sold at an average price of $280.11, for a total transaction of $140,055.00. Following the transaction, the director owned 17,916 shares in the company, valued at $5,018,450.76. This represents a 2.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company’s stock.
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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