Ilmarinen Mutual Pension Insurance Co Grows Stake in CME Group Inc. $CME

Key Points

• Ilmarinen Mutual Pension Insurance Co increased its stake in CME Group Inc. by 10.8%, owning now 122,611 shares valued at approximately $32.5 million.
• CME Group reported $2.96 EPS in the latest quarter, exceeding analysts' expectations, and a revenue of $1.69 billion, reflecting a 10.4% year-over-year growth.
• The company declared a quarterly dividend of $1.25 per share, equating to an annualized dividend of $5.00 and a yield of 1.9%, with a payout ratio of 48.4%.

Ilmarinen Mutual Pension Insurance Co lifted its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,611 shares of the financial services provider's stock after purchasing an additional 12,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in CME Group were worth $32,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC raised its holdings in CME Group by 2.3% in the first quarter. Great Lakes Advisors LLC now owns 1,661 shares of the financial services provider's stock worth $441,000 after buying an additional 37 shares during the last quarter. SeaCrest Wealth Management LLC lifted its position in CME Group by 3.0% in the 1st quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider's stock valued at $366,000 after acquiring an additional 40 shares in the last quarter. OneAscent Financial Services LLC boosted its stake in CME Group by 4.0% during the 1st quarter. OneAscent Financial Services LLC now owns 1,106 shares of the financial services provider's stock valued at $293,000 after purchasing an additional 43 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of CME Group by 0.8% in the 1st quarter. Ballentine Partners LLC now owns 5,828 shares of the financial services provider's stock worth $1,546,000 after purchasing an additional 45 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of CME Group by 3.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,342 shares of the financial services provider's stock worth $356,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 87.75% of the company's stock.

Insiders Place Their Bets

In related news, insider Sunil Cutinho sold 11,896 shares of CME Group stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the sale, the insider owned 17,440 shares of the company's stock, valued at approximately $4,734,436.80. This trade represents a 40.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Shepard purchased 256 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was acquired at an average cost of $270.53 per share, for a total transaction of $69,255.68. Following the completion of the acquisition, the director owned 258,196 shares in the company, valued at $69,849,763.88. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.30% of the company's stock.

CME Group Stock Down 0.4%

CME opened at $261.53 on Wednesday. The firm's 50 day simple moving average is $274.42 and its two-hundred day simple moving average is $270.18. The company has a market capitalization of $94.25 billion, a PE ratio of 25.32, a PEG ratio of 4.75 and a beta of 0.43. CME Group Inc. has a 1-year low of $212.38 and a 1-year high of $290.79. 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 announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.05. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the firm earned $2.56 EPS. CME Group's revenue for the quarter was up 10.4% compared to the same quarter last year. As a group, equities analysts forecast that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 9th. CME Group's dividend payout ratio is presently 48.40%.

Wall Street Analysts Forecast Growth

CME has been the subject of a number of recent analyst reports. Citigroup boosted their target price on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. UBS Group decreased their price objective on shares of CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a report on Monday. Erste Group Bank cut shares of CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer lifted their target price on shares of CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Piper Sandler increased their price target on CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, CME Group has an average rating of "Hold" and a consensus target price of $260.60.

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.

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