FineMark National Bank & Trust lowered its stake in shares of CME Group Inc. (NASDAQ:CME) by 46.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,317 shares of the financial services provider’s stock after selling 39,281 shares during the quarter. FineMark National Bank & Trust’s holdings in CME Group were worth $6,149,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Canada Pension Plan Investment Board increased its holdings in CME Group by 54.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 872,837 shares of the financial services provider’s stock valued at $118,427,000 after buying an additional 305,900 shares during the period. Underhill Investment Management LLC increased its holdings in CME Group by 18.5% in the 3rd quarter. Underhill Investment Management LLC now owns 84,450 shares of the financial services provider’s stock valued at $11,458,000 after buying an additional 13,200 shares during the period. Victory Capital Management Inc. increased its holdings in CME Group by 2.0% in the 3rd quarter. Victory Capital Management Inc. now owns 82,204 shares of the financial services provider’s stock valued at $11,153,000 after buying an additional 1,637 shares during the period. Intact Investment Management Inc. increased its holdings in CME Group by 45.5% in the 3rd quarter. Intact Investment Management Inc. now owns 24,000 shares of the financial services provider’s stock valued at $3,256,000 after buying an additional 7,500 shares during the period. Finally, Crossmark Global Holdings Inc. bought a new stake in CME Group in the 3rd quarter valued at $3,839,000. 82.79% of the stock is currently owned by institutional investors and hedge funds.
In related news, CFO John W. Pietrowicz sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $136.83, for a total value of $342,075.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Julie Holzrichter sold 11,915 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $125.67, for a total value of $1,497,358.05. Following the completion of the transaction, the chief operating officer now owns 43,657 shares in the company, valued at approximately $5,486,375.19. The disclosure for this sale can be found here. Insiders sold 27,479 shares of company stock worth $3,498,921 in the last 90 days. 0.57% of the stock is owned by company insiders.
Several equities research analysts have issued reports on CME shares. Barclays PLC started coverage on shares of CME Group in a report on Friday, September 8th. They issued an “overweight” rating and a $139.00 price target on the stock. BidaskClub lowered shares of CME Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. UBS AG reissued a “buy” rating and issued a $135.00 price target (up previously from $134.00) on shares of CME Group in a report on Wednesday, September 6th. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Finally, Wells Fargo & Company boosted their price target on shares of CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.89.
CME Group (NASDAQ:CME) last posted its earnings results on Thursday, October 26th. The financial services provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.03. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The company had revenue of $890.80 million during the quarter, compared to the consensus estimate of $890.22 million. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis.
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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