Wealthspire Advisors LLC lessened its stake in CME Group Inc. (NASDAQ:CME – Get Rating) by 54.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,960 shares of the financial services provider’s stock after selling 115,693 shares during the quarter. Wealthspire Advisors LLC’s holdings in CME Group were worth $22,587,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its holdings in shares of CME Group by 31.9% in the first quarter. Teacher Retirement System of Texas now owns 91,631 shares of the financial services provider’s stock worth $21,795,000 after acquiring an additional 22,166 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of CME Group by 13.1% in the first quarter. Forsta AP Fonden now owns 74,500 shares of the financial services provider’s stock worth $17,721,000 after acquiring an additional 8,600 shares in the last quarter. Lincoln National Corp bought a new stake in shares of CME Group in the first quarter worth about $275,000. Checchi Capital Advisers LLC boosted its position in shares of CME Group by 5.0% during the first quarter. Checchi Capital Advisers LLC now owns 4,052 shares of the financial services provider’s stock worth $964,000 after buying an additional 194 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in shares of CME Group by 9.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 183,401 shares of the financial services provider’s stock worth $43,624,000 after buying an additional 15,880 shares during the period. Institutional investors own 86.71% of the company’s stock.
Wall Street Analysts Forecast Growth
CME has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on CME Group in a research report on Tuesday, May 31st. They set a “buy” rating and a $267.00 price objective for the company. Citigroup upped their price objective on CME Group from $275.00 to $280.00 in a research report on Thursday, April 28th. Rosenblatt Securities reduced their price objective on CME Group from $268.00 to $267.00 and set a “neutral” rating for the company in a research report on Thursday, April 14th. Oppenheimer raised CME Group from a “market perform” rating to an “outperform” rating and set a $223.00 price target for the company in a research report on Wednesday, May 25th. Finally, Credit Suisse Group reduced their price target on CME Group from $218.00 to $216.00 and set a “neutral” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, CME Group has an average rating of “Hold” and a consensus price target of $237.67.
CME Group Trading Up 1.1 %
CME Group (NASDAQ:CME – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.08. CME Group had a return on equity of 9.65% and a net margin of 60.43%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the business posted $1.64 EPS. CME Group’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that CME Group Inc. will post 7.97 EPS for the current fiscal year.
CME Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Friday, September 9th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, September 8th. CME Group’s payout ratio is presently 49.63%.
CME Group Company Profile
CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income products.
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