Bank of New York Mellon Corp Has $310,582,000 Position in CME Group Inc. (CME)
Bank of New York Mellon Corp raised its stake in shares of CME Group Inc. (NASDAQ:CME) by 1.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,971,498 shares of the company’s stock after buying an additional 54,055 shares during the period. Bank of New York Mellon Corp owned about 0.88% of CME Group worth $310,582,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of CME Group by 447.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,621 shares of the company’s stock valued at $157,000 after buying an additional 1,325 shares during the period. Advisors Preferred LLC purchased a new position in shares of CME Group during the third quarter valued at approximately $180,000. Warren Averett Asset Management LLC purchased a new position in shares of CME Group during the third quarter valued at approximately $211,000. Parametrica Management Ltd purchased a new position in shares of CME Group during the second quarter valued at approximately $212,000. Finally, Private Advisor Group LLC purchased a new position in shares of CME Group during the second quarter valued at approximately $214,000. 79.55% of the stock is owned by institutional investors and hedge funds.
CME Group Inc. (NASDAQ:CME) opened at 111.88 on Tuesday. The firm has a market capitalization of $37.97 billion, a price-to-earnings ratio of 26.08 and a beta of 0.81. CME Group Inc. has a 52-week low of $81.87 and a 52-week high of $117.80. The firm has a 50-day moving average of $107.19 and a 200-day moving average of $102.98.
CME Group (NASDAQ:CME) last posted its earnings results on Thursday, October 27th. The company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The company earned $842 million during the quarter, compared to analysts’ expectations of $855.94 million. CME Group had a net margin of 41.54% and a return on equity of 6.90%. CME Group’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 EPS. On average, equities research analysts forecast that CME Group Inc. will post $4.35 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Stockholders of record on Friday, December 9th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, December 7th. CME Group’s dividend payout ratio is presently 55.94%.
Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of CME Group from an “overweight” rating to a “neutral” rating and set a $116.00 target price on the stock. in a report on Monday, November 14th. They noted that the move was a valuation call. RBC Capital Markets set a $92.00 target price on shares of CME Group and gave the stock a “sell” rating in a report on Friday, October 28th. Royal Bank Of Canada dropped their target price on shares of CME Group from $97.00 to $92.00 and set an “underperform” rating on the stock in a report on Friday, October 28th. Jefferies Group reiterated a “buy” rating and issued a $118.00 target price on shares of CME Group in a report on Thursday, October 13th. Finally, Deutsche Bank AG lifted their target price on shares of CME Group from $115.00 to $116.00 and gave the stock a “buy” rating in a report on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. CME Group presently has a consensus rating of “Hold” and an average target price of $102.89.
In related news, CEO Phupinder Gill sold 30,002 shares of the firm’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $110.00, for a total transaction of $3,300,220.00. Following the transaction, the chief executive officer now directly owns 116,222 shares of the company’s stock, valued at $12,784,420. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Terrence A. Duffy sold 17,375 shares of the firm’s stock in a transaction dated Friday, November 25th. The stock was sold at an average price of $112.58, for a total transaction of $1,956,077.50. Following the transaction, the chief executive officer now directly owns 127,739 shares in the company, valued at $14,380,856.62. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.
CME Group Company Profile
CME Group Inc is a provider of products across all major asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. The Company’s products include both exchange-traded and privately negotiated futures and options contracts and swaps. The Company connects buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City.
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