IBM Retirement Fund increased its stake in shares of CME Group Inc. (NASDAQ:CME) by 120.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 filing with the SEC.
Several other large investors also recently made changes to their positions in CME. Fox Run Management L.L.C. acquired a new stake in CME Group during the first quarter valued at about $535,000. Skylands Capital LLC increased its stake in CME Group by 24.9% in the first quarter. Skylands Capital LLC now owns 22,800 shares of the financial services provider’s stock valued at $2,709,000 after buying an additional 4,550 shares in the last quarter. Atria Investments LLC increased its stake in CME Group by 4.1% in the first quarter. Atria Investments LLC now owns 2,315 shares of the financial services provider’s stock valued at $275,000 after buying an additional 91 shares in the last quarter. Private Bank & Trust Co. increased its stake in CME Group by 32.0% in the first quarter. Private Bank & Trust Co. now owns 3,300 shares of the financial services provider’s stock valued at $392,000 after buying an additional 800 shares in the last quarter. Finally, TNB Financial acquired a new stake in CME Group during the first quarter valued at about $1,194,000. Institutional investors and hedge funds own 83.25% of the company’s stock.
CME Group Inc. (CME) traded up 0.02% during mid-day trading on Friday, hitting $125.39. The stock had a trading volume of 1,048,291 shares. The company has a market capitalization of $42.62 billion, a P/E ratio of 25.60 and a beta of 0.73. CME Group Inc. has a 52 week low of $98.95 and a 52 week high of $127.96. The stock’s 50-day moving average is $123.50 and its 200 day moving average is $121.16.
CME Group (NASDAQ:CME) last issued 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. The company 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 EPS. Equities analysts forecast that CME Group Inc. will post $4.80 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Investors 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 payout ratio is presently 53.99%.
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CME has been the subject of a number of research analyst reports. Deutsche Bank AG lowered their price target on CME Group from $137.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and set a $134.00 price objective (up previously from $128.00) on shares of CME Group in a research report on Monday, July 17th. Royal Bank Of Canada reduced their price objective on CME Group from $133.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, May 1st. BidaskClub upgraded CME Group from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, Citigroup Inc. began coverage on CME Group in a research report on Wednesday, July 12th. They set a “buy” rating and a $140.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. CME Group has an average rating of “Buy” and a consensus target price of $131.63.
In related news, insider Kathleen M. Cronin sold 8,125 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 38,174 shares of the company’s stock, valued at $4,861,458.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Sunil Cutinho sold 10,265 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was 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 approximately $2,556,166.50. The disclosure for this sale can be found here. In the last quarter, 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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