CME Group Inc. (CME) Stake Boosted by Intermede Investment Partners Ltd
Intermede Investment Partners Ltd raised its position in CME Group Inc. (NASDAQ:CME) by 22.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 408,368 shares of the financial services provider’s stock after buying an additional 74,393 shares during the period. CME Group comprises about 4.9% of Intermede Investment Partners Ltd’s investment portfolio, making the stock its 8th largest position. Intermede Investment Partners Ltd owned about 0.12% of CME Group worth $51,144,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of CME. Huntington National Bank raised its position in CME Group by 4.7% in the first quarter. Huntington National Bank now owns 851 shares of the financial services provider’s stock valued at $100,000 after buying an additional 38 shares during the last quarter. Coconut Grove Bank raised its position in CME Group by 95.7% in the first quarter. Coconut Grove Bank now owns 900 shares of the financial services provider’s stock valued at $107,000 after buying an additional 440 shares during the last quarter. Whittier Trust Co. raised its position in CME Group by 12.6% in the first quarter. Whittier Trust Co. now owns 1,030 shares of the financial services provider’s stock valued at $122,000 after buying an additional 115 shares during the last quarter. Parallel Advisors LLC raised its position in CME Group by 4.1% in the first quarter. Parallel Advisors LLC now owns 1,084 shares of the financial services provider’s stock valued at $128,000 after buying an additional 43 shares during the last quarter. Finally, RidgeWorth Capital Management LLC raised its position in CME Group by 55.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,138 shares of the financial services provider’s stock valued at $135,000 after buying an additional 406 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
CME Group Inc. (NASDAQ CME) traded up 0.06% during midday trading on Monday, hitting $120.64. 2,118,977 shares of the stock were exchanged. CME Group Inc. has a 12-month low of $98.95 and a 12-month high of $127.96. The firm has a 50 day moving average of $120.94 and a 200-day moving average of $119.90. The stock has a market cap of $40.99 billion, a price-to-earnings ratio of 26.11 and a beta of 0.74.
CME Group (NASDAQ:CME) last released its earnings results on Thursday, April 27th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.02. CME Group had a net margin of 43.62% and a return on equity of 7.43%. The business had revenue of $929 million for the quarter, compared to analysts’ expectations of $932.06 million. During the same period last year, the company earned $1.15 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts expect that CME Group Inc. will post $4.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 26th. Investors of record on Friday, June 9th were given a $0.66 dividend. The ex-dividend date was Wednesday, June 7th. This represents a $2.64 annualized dividend and a dividend yield of 2.19%. CME Group’s dividend payout ratio is presently 57.14%.
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Several research firms have weighed in on CME. UBS AG reiterated a “buy” rating and issued a $134.00 target price (down from $136.00) on shares of CME Group in a report on Monday, June 5th. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Deutsche Bank AG decreased their target price on shares of CME Group from $139.00 to $136.00 and set a “buy” rating on the stock in a report on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $128.00 target price on shares of CME Group in a report on Monday, July 10th. Finally, Citigroup Inc. began coverage on shares of CME Group in a report on Wednesday, July 12th. They issued a “buy” rating and a $140.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. CME Group currently has a consensus rating of “Hold” and a consensus target price of $128.00.
In related news, Director Dennis Suskind sold 1,099 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $115.29, for a total value of $126,703.71. Following the transaction, the director now owns 5,000 shares in the company, valued at $576,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO John W. Pietrowicz sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $124.50, for a total transaction of $311,250.00. Following the completion of the transaction, the chief financial officer now owns 38,495 shares in the company, valued at approximately $4,792,627.50. The disclosure for this sale can be found here. Insiders sold 48,754 shares of company stock worth $5,955,724 over the last three months. Corporate insiders own 0.61% of the company’s stock.
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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