IBM Retirement Fund increased its stake in CME Group Inc. (NASDAQ:CME) by 120.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,298 shares of the financial services provider’s stock after buying an additional 4,531 shares during the period. IBM Retirement Fund’s holdings in CME Group were worth $1,162,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of CME. Huntington National Bank increased its stake in shares of CME Group by 4.7% in the first quarter. Huntington National Bank now owns 851 shares of the financial services provider’s stock valued at $100,000 after buying an additional 38 shares during the period. Coconut Grove Bank increased its stake in shares of CME Group by 95.7% in the first quarter. Coconut Grove Bank now owns 900 shares of the financial services provider’s stock valued at $107,000 after buying an additional 440 shares during the period. Whittier Trust Co. increased its stake in shares of CME Group by 12.6% in the first quarter. Whittier Trust Co. now owns 1,030 shares of the financial services provider’s stock valued at $122,000 after buying an additional 115 shares during the period. Parallel Advisors LLC increased its stake in shares of CME Group by 4.1% in the first quarter. Parallel Advisors LLC now owns 1,084 shares of the financial services provider’s stock valued at $128,000 after buying an additional 43 shares during the period. Finally, RidgeWorth Capital Management LLC increased its stake in shares of CME Group by 55.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,138 shares of the financial services provider’s stock valued at $135,000 after buying an additional 406 shares during the period. 83.29% of the stock is owned by hedge funds and other institutional investors.
Shares of CME Group Inc. (CME) traded down 0.75% during trading on Friday, reaching $123.26. The company’s stock had a trading volume of 650,816 shares. The company has a market capitalization of $41.90 billion, a price-to-earnings ratio of 25.16 and a beta of 0.73. CME Group Inc. has a one year low of $98.95 and a one year high of $127.96. The firm’s 50-day moving average price is $123.43 and its 200-day moving average price is $120.91.
CME Group (NASDAQ:CME) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.03. The business had revenue of $925 million during the quarter, compared to analyst estimates of $931.05 million. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.14 EPS. On average, equities analysts anticipate that CME Group Inc. will post $4.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.64 dividend on an annualized basis and a yield of 2.14%. CME Group’s dividend payout ratio is presently 53.99%.
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Several brokerages have recently commented on CME. UBS AG reissued a “buy” rating and issued a $134.00 price objective (down from $136.00) on shares of CME Group in a research note on Monday, June 5th. BidaskClub raised CME Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Royal Bank Of Canada set a $135.00 price target on CME Group and gave the company a “buy” rating in a research report on Tuesday, August 1st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $127.00 price target on shares of CME Group in a research report on Friday, July 14th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $128.00 price target on shares of CME Group in a research report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $131.63.
In other news, insider Sunil Cutinho sold 10,265 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $117.85, for a total value of $1,209,730.25. Following the completion of the sale, the insider now directly owns 21,690 shares in the company, valued at approximately $2,556,166.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Bryan T. Durkin sold 9,200 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $125.13, for a total value of $1,151,196.00. Following the completion of the sale, the president now owns 70,938 shares of the company’s stock, valued at $8,876,471.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,085 shares of company stock valued at $11,242,896. Company insiders own 0.61% of the company’s stock.
About CME Group
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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