First Citizens Bank & Trust Co. raised its stake in shares of CME Group Inc. (NASDAQ:CME) by 141.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 19,990 shares of the financial services provider’s stock after buying an additional 11,707 shares during the period. First Citizens Bank & Trust Co.’s holdings in CME Group were worth $2,504,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in CME. Quadrature Capital Ltd purchased a new position in CME Group during the fourth quarter valued at approximately $9,571,000. Teachers Advisors LLC boosted its position in CME Group by 70.3% in the fourth quarter. Teachers Advisors LLC now owns 1,019,252 shares of the financial services provider’s stock valued at $117,571,000 after buying an additional 420,693 shares in the last quarter. Kentucky Retirement Systems purchased a new position in CME Group during the fourth quarter valued at approximately $2,840,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in CME Group during the fourth quarter valued at approximately $1,267,000. Finally, Highbridge Capital Management LLC purchased a new position in CME Group during the fourth quarter valued at approximately $6,147,000. 83.29% of the stock is currently owned by institutional investors and hedge funds.
CME Group Inc. (CME) opened at 123.26 on Friday. CME Group Inc. has a 52-week low of $98.95 and a 52-week high of $127.96. The stock has a market capitalization of $41.90 billion, a price-to-earnings ratio of 25.16 and a beta of 0.73. The stock’s 50 day moving average is $123.41 and its 200-day moving average is $120.96.
CME Group (NASDAQ:CME) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.03. The firm had revenue of $925 million for the quarter, compared to analysts’ expectations of $931.05 million. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. Equities research analysts anticipate that CME Group Inc. will post $4.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors of record on Friday, September 8th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $2.64 annualized dividend and a yield of 2.14%. CME Group’s dividend payout ratio (DPR) is 53.99%.
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CME has been the topic of a number of research reports. UBS AG reaffirmed a “buy” rating and issued a $134.00 price target (down previously from $136.00) on shares of CME Group in a report on Monday, June 5th. BidaskClub raised shares of CME Group from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Royal Bank Of Canada set a $135.00 price target on shares of CME Group and gave the stock a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $128.00 price target on shares of CME Group in a report on Monday, July 10th. Finally, Citigroup Inc. started coverage on shares of CME Group in a research note on Wednesday, July 12th. They issued a “buy” rating and a $140.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $131.63.
In other CME Group news, CFO John W. Pietrowicz sold 2,500 shares of the stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $124.50, for a total value of $311,250.00. Following the transaction, the chief financial officer now directly owns 38,495 shares in the company, valued at $4,792,627.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sunil Cutinho sold 10,265 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $117.85, for a total transaction of $1,209,730.25. Following the completion of the transaction, the insider now owns 21,690 shares in the company, valued at $2,556,166.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,085 shares of company stock worth $11,242,896. 0.61% of the stock is owned by corporate insiders.
CME Group Company Profile
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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