Bowie Capital Management LLC bought a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 104,114 shares of the financial services provider's stock, valued at approximately $22,991,000. CME Group makes up about 1.0% of Bowie Capital Management LLC's portfolio, making the stock its 24th biggest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whipplewood Advisors LLC grew its holdings in shares of CME Group by 2,075.0% during the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. Elkhorn Partners Limited Partnership acquired a new position in CME Group during the 4th quarter worth approximately $27,000. Hilton Head Capital Partners LLC bought a new position in CME Group in the 4th quarter valued at approximately $28,000. Legacy Wealth Managment LLC ID lifted its stake in CME Group by 191.9% in 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 last quarter. Finally, Main Street Group LTD acquired a new stake in CME Group in the first quarter valued at approximately $32,000. Institutional investors own 87.75% of the company's stock.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price target on shares of CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Bank of America raised their price objective on CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a report on Thursday, July 23rd. Barclays lowered their target price on CME Group from $316.00 to $270.00 and set an "equal weight" rating for the company in a report on Thursday, July 9th. TD Cowen dropped their target price on CME Group from $323.00 to $273.00 and set a "buy" rating for the company in a research report on Monday, June 22nd. Finally, Erste Group Bank lowered CME Group from a "buy" rating to a "hold" rating in a research note on Friday, June 5th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $288.56.
Get Our Latest Research Report on CME
CME Group Stock Up 1.5%
Shares of NASDAQ:CME opened at $270.87 on Friday. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The business's 50-day moving average is $251.06 and its 200-day moving average is $279.68. The company has a market capitalization of $97.40 billion, a price-to-earnings ratio of 22.97, a P/E/G ratio of 3.11 and a beta of 0.23.
CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. The business had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business's quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the company posted $2.96 earnings per share. Equities research analysts predict that CME Group Inc. will post 12.27 earnings per share for the current year.
CME Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group's dividend payout ratio (DPR) is 44.11%.
Insider Activity
In other CME Group news, Director William R. Shepard acquired 325 shares of CME Group stock in a transaction dated Thursday, June 25th. The stock was purchased at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the acquisition, the director directly owned 260,442 shares of the company's stock, valued at $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.
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.
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