Parametric Portfolio Associates LLC Decreases Holdings in CME Group Inc (NASDAQ:CME)
Parametric Portfolio Associates LLC decreased its stake in CME Group Inc (NASDAQ:CME) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,189,938 shares of the financial services provider’s stock after selling 16,941 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.33% of CME Group worth $230,979,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advantage Investment Management LLC increased its stake in CME Group by 119.0% during the 2nd quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in shares of CME Group in the second quarter worth approximately $38,000. Close Asset Management Ltd acquired a new stake in shares of CME Group in the first quarter worth approximately $34,000. Permanens Capital L.P. purchased a new stake in shares of CME Group during the first quarter worth approximately $41,000. Finally, Patriot Financial Group Insurance Agency LLC increased its position in shares of CME Group by 209.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 263 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 178 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.
A number of research analysts have weighed in on the company. Zacks Investment Research lowered CME Group from a “hold” rating to a “sell” rating and set a $158.00 price objective on the stock. in a report on Monday, May 27th. Barclays increased their target price on shares of CME Group from $191.00 to $197.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. UBS Group raised their price target on shares of CME Group from $191.00 to $214.00 and gave the stock a “neutral” rating in a research note on Thursday, September 5th. Wells Fargo & Co boosted their price target on shares of CME Group from $176.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 3rd. Finally, BidaskClub upgraded shares of CME Group from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $196.85.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.01. CME Group had a net margin of 39.36% and a return on equity of 9.14%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $1.74 EPS. The company’s revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that CME Group Inc will post 6.69 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Monday, September 9th. CME Group’s dividend payout ratio (DPR) is presently 43.99%.
In other CME Group news, insider Sean Tully sold 7,200 shares of CME Group stock in a transaction on Friday, September 6th. The stock was sold at an average price of $223.13, for a total value of $1,606,536.00. Following the sale, the insider now owns 19,923 shares in the company, valued at $4,445,418.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of CME Group stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $200.15, for a total value of $7,005,250.00. Following the completion of the sale, the chief executive officer now owns 79,057 shares in the company, valued at approximately $15,823,258.55. The disclosure for this sale can be found here. Insiders have sold 59,626 shares of company stock worth $12,255,934 over the last ninety days. 1.20% of the stock is owned by insiders.
About CME Group
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 commodities, and metals, as well as fixed income products.
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