Kornitzer Capital Management Inc. KS Reduces Position in CME Group Inc (CME)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of CME Group Inc (NASDAQ:CME) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 172,744 shares of the financial services provider’s stock after selling 10,127 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.05% of CME Group worth $29,403,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd acquired a new stake in shares of CME Group in the third quarter valued at approximately $172,308,000. Edgewood Management LLC increased its stake in shares of CME Group by 9.5% in the third quarter. Edgewood Management LLC now owns 8,582,518 shares of the financial services provider’s stock valued at $1,460,830,000 after purchasing an additional 742,067 shares during the period. Janus Henderson Group PLC increased its stake in shares of CME Group by 13.2% in the second quarter. Janus Henderson Group PLC now owns 6,129,157 shares of the financial services provider’s stock valued at $1,004,691,000 after purchasing an additional 716,655 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of CME Group in the second quarter valued at approximately $96,350,000. Finally, Standard Life Aberdeen plc increased its stake in shares of CME Group by 38.1% in the second quarter. Standard Life Aberdeen plc now owns 1,765,929 shares of the financial services provider’s stock valued at $289,472,000 after purchasing an additional 487,442 shares during the period. Hedge funds and other institutional investors own 84.55% of the company’s stock.

Several equities research analysts have commented on CME shares. BidaskClub upgraded shares of CME Group from a “hold” rating to a “buy” rating in a research note on Saturday, August 18th. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating in a research note on Wednesday, August 22nd. Jefferies Financial Group restated a “buy” rating and issued a $190.00 price target on shares of CME Group in a research note on Wednesday, September 5th. Rosenblatt Securities started coverage on shares of CME Group in a research note on Wednesday, September 5th. They issued a “neutral” rating and a $177.00 price target on the stock. Finally, Berenberg Bank set a $184.00 price target on shares of CME Group and gave the company a “hold” rating in a research note on Thursday, September 20th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. CME Group presently has an average rating of “Buy” and an average price target of $191.80.

In related news, Director Charles P. Carey sold 2,800 shares of the firm’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $183.45, for a total transaction of $513,660.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hilda Harris Piell sold 1,823 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $175.00, for a total transaction of $319,025.00. Following the sale, the insider now owns 30,176 shares of the company’s stock, valued at $5,280,800. The disclosure for this sale can be found here. Insiders sold 44,419 shares of company stock valued at $8,193,732 over the last quarter. Insiders own 0.43% of the company’s stock.

CME Group stock opened at $190.08 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $64.60 billion, a PE ratio of 39.85, a P/E/G ratio of 2.21 and a beta of 0.49. CME Group Inc has a 12-month low of $143.68 and a 12-month high of $197.08.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.03. The business had revenue of $904.20 million during the quarter, compared to analysts’ expectations of $910.50 million. CME Group had a net margin of 113.67% and a return on equity of 9.18%. As a group, sell-side analysts anticipate that CME Group Inc will post 6.65 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Monday, December 10th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Friday, December 7th. CME Group’s dividend payout ratio (DPR) is presently 58.70%.

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CME Group Profile

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals.

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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