Hamlin Capital Management LLC lowered its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 25.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,054 shares of the financial services provider's stock after selling 184,899 shares during the period. CME Group comprises about 2.7% of Hamlin Capital Management LLC's portfolio, making the stock its 22nd largest holding. Hamlin Capital Management LLC owned 0.15% of CME Group worth $118,598,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CME. Norges Bank bought a new stake in CME Group during the fourth quarter worth about $1,523,241,000. Victory Capital Management Inc. raised its stake in shares of CME Group by 746.4% during the 4th quarter. Victory Capital Management Inc. now owns 2,049,649 shares of the financial services provider's stock worth $559,720,000 after purchasing an additional 1,807,491 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of CME Group by 39.1% in the 1st 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 stake in shares of CME Group in the 4th quarter valued at approximately $217,656,000. Finally, Viking Global Investors LP bought a new position in shares of CME Group in the second quarter valued at $164,648,000. 87.75% of the stock is owned by institutional investors.
Insider Buying and Selling at CME Group
In other CME Group news, CEO Terrence A. Duffy sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $298.51, for a total transaction 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 represents a 38.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hilda Harris Piell sold 5,753 shares of the firm's stock in a transaction that occurred on 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 sale, the insider directly owned 27,702 shares of the company's stock, valued at approximately $8,438,860.26. This trade represents a 17.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Bank of America raised their target price on shares of CME Group from $226.00 to $230.00 and gave the stock an "underperform" rating in a research note on Thursday, July 23rd. Raymond James Financial reissued an "outperform" rating and set a $320.00 price target on shares of CME Group in a research report on Thursday, July 2nd. Piper Sandler cut their target price on CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Rothschild & Co Redburn raised CME Group from a "neutral" rating to a "buy" rating and increased their target price for the stock from $316.00 to $323.00 in a report on Thursday, June 11th. Finally, Wall Street Zen cut CME Group from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. Eleven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $291.81.
Get Our Latest Stock Analysis on CME
CME Group Stock Performance
CME stock opened at $264.78 on Thursday. The stock has a 50-day moving average price of $249.70 and a 200-day moving average price of $281.01. CME Group Inc. has a 1-year low of $218.31 and a 1-year high of $329.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market cap of $95.21 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 3.06 and a beta of 0.23.
CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the prior year, the company earned $2.96 EPS. The firm's revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts expect that CME Group Inc. will post 12.27 earnings per share for the current year.
CME Group Profile
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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
Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME - Free Report).
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