RiverPark Advisors LLC cut its position in shares of CME Group Inc (NASDAQ:CME) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,083 shares of the financial services provider’s stock after selling 1,127 shares during the period. RiverPark Advisors LLC’s holdings in CME Group were worth $3,268,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Carret Asset Management LLC bought a new position in CME Group during the third quarter valued at approximately $207,000. First Republic Investment Management Inc. boosted its stake in CME Group by 2.3% during the third quarter. First Republic Investment Management Inc. now owns 35,251 shares of the financial services provider’s stock valued at $4,783,000 after buying an additional 787 shares during the last quarter. Jackson Square Partners LLC bought a new position in CME Group during the third quarter valued at approximately $48,724,000. AMP Capital Investors Ltd boosted its stake in CME Group by 8.0% during the third quarter. AMP Capital Investors Ltd now owns 232,975 shares of the financial services provider’s stock valued at $31,609,000 after buying an additional 17,247 shares during the last quarter. Finally, Lido Advisors LLC bought a new position in CME Group during the third quarter valued at approximately $590,000. 83.17% of the stock is owned by institutional investors.
In related news, Director Dennis Suskind sold 750 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $129.34, for a total transaction of $97,005.00. Following the completion of the sale, the director now directly owns 5,059 shares of the company’s stock, valued at approximately $654,331.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Julie Holzrichter sold 12,920 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $144.08, for a total value of $1,861,513.60. The disclosure for this sale can be found here. Insiders sold a total of 34,921 shares of company stock valued at $5,016,248 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.
CME Group (NASDAQ:CME) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.03. The business had revenue of $890.80 million during the quarter, compared to analyst estimates of $890.22 million. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. sell-side analysts predict that CME Group Inc will post 4.78 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, December 7th. CME Group’s payout ratio is 59.86%.
A number of equities analysts recently commented on CME shares. BidaskClub raised CME Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 27th. Barclays increased their price target on CME Group from $139.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. UBS reissued a “buy” rating and set a $135.00 price target (up from $134.00) on shares of CME Group in a research note on Wednesday, September 6th. Royal Bank Of Canada increased their price target on CME Group from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $127.00 price target on shares of CME Group in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. CME Group has a consensus rating of “Buy” and a consensus target price of $141.75.
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CME Group 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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