CME Group Inc. $CME Shares Sold by Glenmede Trust Co. NA

Key Points

• Glenmede Trust reduced its CME Group position by 5.2% in the first quarter, selling 5,057 shares and retaining 92,262 shares valued at approximately $27.25 million. Institutional investors and hedge funds collectively own 87.75% of CME’s stock.
• CME Group reported quarterly earnings of $2.99 per share, exceeding estimates of $2.91, while revenue rose 0.8% year over year to $1.71 billion. The company maintains a quarterly dividend of $1.30 per share, equivalent to a 1.9% yield.
• Analyst opinions remain mixed, with 11 Buy, four Hold, and three Sell ratings producing a consensus “Hold” rating and an average price target of $291.81. Two senior insiders, including CEO Terrence Duffy, recently sold shares.

Glenmede Trust Co. NA lowered its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 5.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 92,262 shares of the financial services provider's stock after selling 5,057 shares during the period. Glenmede Trust Co. NA's holdings in CME Group were worth $27,250,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in CME Group in the 4th quarter worth about $1,523,241,000. Victory Capital Management Inc. raised its holdings in shares of CME Group by 746.4% during the fourth quarter. Victory Capital Management Inc. now owns 2,049,649 shares of the financial services provider's stock valued at $559,720,000 after buying an additional 1,807,491 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of CME Group by 39.1% during the first quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider's stock valued at $1,187,290,000 after buying an additional 1,130,587 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in CME Group during the 4th quarter worth $217,656,000. Finally, Viking Global Investors LP acquired a new stake in CME Group in the second quarter worth about $164,648,000. Institutional investors and hedge funds own 87.75% of the company's stock.

Insider Activity

In other CME Group news, insider Hilda Harris Piell sold 5,753 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $304.63, for a total transaction of $1,752,536.39. Following the completion of the sale, the insider directly owned 27,702 shares in the company, valued at approximately $8,438,860.26. This trade represents a 17.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Terrence A. Duffy sold 35,000 shares of CME Group stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $298.51, for a total value of $10,447,850.00. Following the transaction, the chief executive officer directly owned 55,630 shares in the company, valued at approximately $16,606,111.30. This trade represents a 38.62% decrease in their position. The SEC filing for this sale provides additional information. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group dropped their price target on shares of CME Group from $356.00 to $349.00 and set a "buy" rating on the stock in a research report on Thursday, April 9th. Erste Group Bank cut shares of CME Group from a "buy" rating to a "hold" rating in a report on Friday, June 5th. JPMorgan Chase & Co. raised their price objective on shares of CME Group from $249.00 to $250.00 and gave the company an "underweight" rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised CME Group from a "market perform" rating to an "outperform" rating and set a $305.00 target price on the stock in a report on Thursday, June 18th. Finally, Raymond James Financial restated an "outperform" rating and issued a $320.00 target price on shares of CME Group in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $291.81.

CME Group Stock Performance

Shares of CME opened at $267.79 on Friday. The company has a 50-day moving average of $250.89 and a two-hundred day moving average of $281.05. The stock has a market cap of $96.29 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 3.12 and a beta of 0.25. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $2.96 earnings per share. The firm's revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, June 9th. CME Group's dividend payout ratio (DPR) is 44.11%.

CME Group Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.