CIBC World Markets Inc. Lowers Stake in CME Group Inc. (CME)
CIBC World Markets Inc. lessened its holdings in CME Group Inc. (NASDAQ:CME) by 15.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,788 shares of the financial services provider’s stock after selling 3,140 shares during the period. CIBC World Markets Inc.’s holdings in CME Group were worth $2,103,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in CME. Fiduciary Trust Co. purchased a new stake in shares of CME Group in the 2nd quarter worth approximately $105,000. Parallel Advisors LLC lifted its position in shares of CME Group by 4.1% in the 1st quarter. Parallel Advisors LLC now owns 1,084 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 43 shares during the period. Whittier Trust Co. lifted its position in shares of CME Group by 2.6% in the 2nd quarter. Whittier Trust Co. now owns 1,057 shares of the financial services provider’s stock worth $133,000 after purchasing an additional 27 shares during the period. RidgeWorth Capital Management LLC lifted its position in shares of CME Group by 55.5% in the 1st quarter. RidgeWorth Capital Management LLC now owns 1,138 shares of the financial services provider’s stock worth $135,000 after purchasing an additional 406 shares during the period. Finally, Guardian Life Insurance Co. of America lifted its position in shares of CME Group by 0.7% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,309 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 9 shares during the period. 82.67% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Martin J. Gepsman sold 200 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $126.14, for a total transaction of $25,228.00. Following the completion of the sale, the director now owns 43,311 shares in the company, valued at approximately $5,463,249.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald A. Pankau sold 300 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $124.78, for a total transaction of $37,434.00. Following the sale, the director now owns 4,009 shares of the company’s stock, valued at approximately $500,243.02. The disclosure for this sale can be found here. Insiders have sold a total of 48,244 shares of company stock valued at $6,021,890 in the last 90 days. Insiders own 0.57% of the company’s stock.
A number of equities research analysts recently commented on CME shares. BidaskClub raised shares of CME Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Jefferies Group LLC reissued a “buy” rating and set a $128.00 target price on shares of CME Group in a research report on Monday, July 10th. UBS AG reissued a “buy” rating and set a $135.00 target price (up previously from $134.00) on shares of CME Group in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $127.00 target price on shares of CME Group in a research report on Friday, July 14th. Finally, Citigroup Inc. started coverage on shares of CME Group in a research report on Wednesday, July 12th. They set a “buy” rating and a $140.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $132.56.
CME Group Inc. (CME) opened at 130.06 on Wednesday. The firm has a market cap of $44.21 billion, a price-to-earnings ratio of 26.55 and a beta of 0.72. CME Group Inc. has a 52 week low of $98.95 and a 52 week high of $130.15. The firm’s 50-day moving average is $125.07 and its 200-day moving average is $121.81.
CME Group (NASDAQ:CME) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.03. The business had revenue of $925.00 million during the quarter, compared to the consensus estimate of $931.05 million. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. On average, equities analysts anticipate that CME Group Inc. will post $4.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 25th. Stockholders of record on Friday, September 8th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.64 annualized dividend and a dividend yield of 2.03%. CME Group’s dividend payout ratio is presently 53.99%.
About CME Group
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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