2,708 Shares in CME Group Inc. (NASDAQ:CME) Bought by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired 2,708 shares of CME Group Inc., valued at approximately $718,000, during the first quarter of this year.
• Analysts have set varying price targets for CME Group, with Morgan Stanley increasing its target from $301.00 to $304.00, while JPMorgan Chase lowered its target from $223.00 to $211.00.
• CME Group reported a 10.4% year-over-year revenue increase of $1.69 billion for the last quarter, exceeding analysts' expectations.

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,708 shares of the financial services provider's stock, valued at approximately $718,000.

Other large investors have also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in CME Group during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its position in CME Group by 122.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 55 shares during the period. Golden State Wealth Management LLC boosted its position in CME Group by 612.5% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 98 shares during the period. Alpine Bank Wealth Management acquired a new position in CME Group during the 1st quarter valued at approximately $32,000. Finally, Financial Gravity Asset Management Inc. acquired a new position in CME Group during the 1st quarter valued at approximately $32,000. 87.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CME has been the subject of a number of analyst reports. Morgan Stanley boosted their price objective on CME Group from $301.00 to $304.00 and gave the company an "overweight" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their price objective on CME Group from $265.00 to $273.00 and gave the company a "market perform" rating in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price target on CME Group from $223.00 to $211.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Erste Group Bank lowered CME Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, UBS Group reiterated a "neutral" rating and set a $305.00 price target on shares of CME Group in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, CME Group presently has an average rating of "Hold" and a consensus target price of $261.93.

CME Group Stock Up 0.9%

CME opened at $280.76 on Monday. CME Group Inc. has a one year low of $196.62 and a one year high of $290.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock's fifty day moving average is $276.07 and its 200-day moving average is $264.36. The company has a market capitalization of $101.18 billion, a PE ratio of 27.18, a P/E/G ratio of 4.99 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.05. CME Group had a return on equity of 14.60% and a net margin of 58.48%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the business earned $2.56 EPS. The company's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities analysts predict that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group's payout ratio is 48.40%.

Insider Activity at CME Group

In other news, General Counsel Jonathan L. Marcus sold 390 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $277.50, for a total transaction of $108,225.00. Following the sale, the general counsel directly owned 6,708 shares of the company's stock, valued at $1,861,470. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel G. Kaye sold 500 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $282.42, for a total value of $141,210.00. Following the sale, the director directly owned 3,668 shares in the company, valued at $1,035,916.56. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,750 shares of company stock valued at $1,576,294 over the last ninety days. Company insiders own 0.30% of the company's stock.

CME Group 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 and foreign currency trading services.

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