Raiffeisen Bank International AG Grows Stock Holdings in CME Group Inc. (NASDAQ:CME)

Key Points

• Raiffeisen Bank International AG increased its holdings in CME Group by 73.5% during the first quarter, totaling 4,674 shares valued at approximately $1.226 million.
• In the first quarter, institutional investors collectively owned 87.75% of CME Group's stock, indicating strong institutional interest in the company.
• CME Group reported $2.96 EPS for the last quarter, exceeding analyst expectations, and announced a quarterly dividend of $1.25 per share.

Raiffeisen Bank International AG boosted its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 73.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,674 shares of the financial services provider's stock after purchasing an additional 1,980 shares during the period. Raiffeisen Bank International AG's holdings in CME Group were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Heartland Bank & Trust Co acquired a new position in shares of CME Group in the first quarter worth approximately $377,000. Catalyst Capital Advisors LLC grew its stake in CME Group by 256.9% during the first quarter. Catalyst Capital Advisors LLC now owns 3,662 shares of the financial services provider's stock worth $971,000 after purchasing an additional 2,636 shares during the period. OMNI 360 Wealth Inc. bought a new stake in CME Group in the first quarter worth approximately $367,000. Fulcrum Equity Management acquired a new position in CME Group in the first quarter valued at approximately $258,000. Finally, Aspire Growth Partners LLC acquired a new position in CME Group in the fourth quarter valued at approximately $548,000. Institutional investors and hedge funds own 87.75% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of CME Group from $223.00 to $211.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Piper Sandler lifted their price target on shares of CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods increased their price objective on shares of CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a research report on Thursday, April 24th. Erste Group Bank downgraded CME Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Wall Street Zen downgraded CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, CME Group currently has an average rating of "Hold" and a consensus target price of $261.93.

Insiders Place Their Bets

In other news, Director Charles P. Carey sold 3,000 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $272.56, for a total transaction of $817,680.00. Following the sale, the director owned 5,400 shares in the company, valued at approximately $1,471,824. This trade represents a 35.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Jonathan L. Marcus sold 390 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total value of $108,225.00. Following the completion of the transaction, the general counsel directly owned 6,708 shares in the company, valued at approximately $1,861,470. This represents a 5.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,750 shares of company stock worth $1,576,294 over the last quarter. Insiders own 0.30% of the company's stock.

CME Group Stock Performance

Shares of CME stock traded down $0.40 on Thursday, hitting $280.95. 1,675,975 shares of the stock were exchanged, compared to its average volume of 2,046,526. The firm's 50 day moving average is $276.05 and its two-hundred day moving average is $264.99. CME Group Inc. has a one year low of $202.35 and a one year high of $290.79. The firm has a market capitalization of $101.25 billion, a PE ratio of 27.20, a P/E/G ratio of 5.00 and a beta of 0.44. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

CME Group (NASDAQ:CME - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the company earned $2.56 earnings per share. The company's revenue was up 10.4% on a year-over-year basis. Sell-side analysts expect that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. CME Group's dividend payout ratio is currently 48.40%.

About CME Group

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.