BlackRock Inc. acquired a new stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,566,342 shares of the financial services provider's stock, valued at approximately $6,749,965,000. BlackRock Inc. owned about 8.50% of CME Group at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Asset Dedication LLC increased its stake in shares of CME Group by 64.9% during the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider's stock valued at $26,000 after buying an additional 37 shares during the period. Whipplewood Advisors LLC lifted its stake in CME Group by 2,075.0% in the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock worth $26,000 after acquiring an additional 83 shares during the period. Elkhorn Partners Limited Partnership bought a new stake in CME Group in the fourth quarter valued at $27,000. Hilton Head Capital Partners LLC purchased a new position in CME Group during the 4th quarter valued at $28,000. Finally, Legacy Wealth Managment LLC ID increased its position in CME Group by 191.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 71 shares during the period. 87.75% of the stock is currently owned by hedge funds and other institutional investors.
CME Group Price Performance
Shares of NASDAQ CME opened at $267.88 on Tuesday. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The company has a 50 day simple moving average of $250.51 and a two-hundred day simple moving average of $280.07. The company has a market capitalization of $96.32 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 3.14 and a beta of 0.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.
CME Group (NASDAQ:CME - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. CME Group's revenue was up .8% compared to the same quarter last year. Analysts expect that CME Group Inc. will post 12.27 EPS for the current fiscal year.
CME Group Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. CME Group's dividend payout ratio is presently 44.11%.
Insider Buying and Selling at CME Group
In other CME Group news, Director William R. Shepard acquired 325 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were bought at an average price of $230.57 per share, with a total value of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares in the company, valued at $60,050,111.94. This represents a 0.12% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on CME shares. Morgan Stanley raised their target price on shares of CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Bank of America boosted their price target on shares of CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a research report on Thursday, July 23rd. UBS Group lowered their price objective on shares of CME Group from $310.00 to $260.00 and set a "buy" rating for the company in a report on Monday, July 6th. Piper Sandler cut their price objective on CME Group from $329.00 to $295.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Finally, Barclays cut their price objective on CME Group from $316.00 to $270.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 9th. Ten investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, CME Group currently has a consensus rating of "Hold" and a consensus target price of $291.81.
Check Out Our Latest Report on CME
About CME Group
(
Free Report)
CME Group Inc is a global markets company that operates some of the world's largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.
The company's core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.
See Also
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