KBC Group NV boosted its position in shares of CME Group Inc. (NASDAQ:CME) by 33.1% during the second quarter, Holdings Channel reports. The fund owned 222,336 shares of the financial services provider’s stock after buying an additional 55,247 shares during the period. KBC Group NV’s holdings in CME Group were worth $27,845,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. RMB Capital Management LLC raised its stake in shares of CME Group by 3.1% in the first quarter. RMB Capital Management LLC now owns 114,834 shares of the financial services provider’s stock worth $13,642,000 after buying an additional 3,501 shares in the last quarter. Profund Advisors LLC raised its stake in shares of CME Group by 4.2% in the first quarter. Profund Advisors LLC now owns 11,222 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 457 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of CME Group by 5.6% in the first quarter. Thrivent Financial For Lutherans now owns 12,500 shares of the financial services provider’s stock worth $1,485,000 after buying an additional 660 shares in the last quarter. Parsons Capital Management Inc. RI bought a new stake in shares of CME Group during the first quarter worth approximately $569,000. Finally, Dowling & Yahnke LLC raised its stake in shares of CME Group by 1.7% in the first quarter. Dowling & Yahnke LLC now owns 6,844 shares of the financial services provider’s stock worth $813,000 after buying an additional 114 shares in the last quarter. 83.25% of the stock is owned by institutional investors and hedge funds.
Shares of CME Group Inc. (CME) opened at 125.36 on Friday. The firm’s 50 day moving average price is $123.50 and its 200 day moving average price is $121.13. CME Group Inc. has a 52-week low of $98.95 and a 52-week high of $127.96. The stock has a market cap of $42.61 billion, a P/E ratio of 25.59 and a beta of 0.73.
CME Group (NASDAQ:CME) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The business had revenue of $925 million during the quarter, compared to the consensus estimate of $931.05 million. During the same quarter in the previous year, the firm posted $1.14 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. On average, analysts expect that CME Group Inc. will post $4.80 EPS 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 given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, September 7th. CME Group’s dividend payout ratio (DPR) is presently 53.99%.
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A number of analysts have commented on the company. BidaskClub raised 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 target price on CME Group and gave the company a “buy” rating in a report on Tuesday, August 1st. Jefferies Group LLC reaffirmed a “buy” rating and issued a $134.00 target price (up from $128.00) on shares of CME Group in a report on Monday, July 17th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $127.00 target price on shares of CME Group in a report on Friday, July 14th. Finally, Citigroup Inc. started coverage on CME Group in a report on Wednesday, July 12th. They issued a “buy” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $131.63.
In other news, insider Kathleen M. Cronin sold 8,125 shares of CME Group stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $127.35, for a total transaction of $1,034,718.75. Following the transaction, the insider now owns 38,174 shares in the company, valued at approximately $4,861,458.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martin J. Gepsman sold 200 shares of CME Group stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $126.14, for a total transaction of $25,228.00. Following the transaction, the director now owns 43,311 shares in the company, valued at approximately $5,463,249.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,085 shares of company stock valued at $11,242,896. 0.61% of the stock is currently owned by 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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