Intermede Investment Partners Ltd Invests $77.82 Million in CME Group Inc. $CME

Key Points

• Intermede Investment Partners opened a new position in CME Group during the fourth quarter, buying 284,959 shares worth about $77.8 million. The stake represents roughly 3.2% of the fund’s portfolio and 0.08% of CME Group’s shares.
• Insiders have been selling shares, including CEO Terrence A. Duffy, who sold 35,000 shares for about $10.45 million, and General Counsel Jonathan L. Marcus, who sold 3,291 shares. Company insiders have sold 44,044 shares worth $13.3 million over the last quarter.
• CME Group reported strong quarterly results, with EPS of $3.36 beating estimates and revenue of $1.88 billion topping forecasts. The company also announced a quarterly dividend of $1.30 per share, equivalent to a 1.8% annual yield.

Intermede Investment Partners Ltd acquired a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 284,959 shares of the financial services provider's stock, valued at approximately $77,817,000. CME Group comprises about 3.2% of Intermede Investment Partners Ltd's portfolio, making the stock its 12th largest holding. Intermede Investment Partners Ltd owned approximately 0.08% of CME Group as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Asset Dedication LLC lifted its holdings in shares of CME Group by 64.9% during the 4th quarter. Asset Dedication LLC now owns 94 shares of the financial services provider's stock worth $26,000 after acquiring an additional 37 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in shares of CME Group during the 4th quarter worth $27,000. Legacy Wealth Managment LLC ID lifted its holdings in shares of CME Group by 191.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider's stock worth $29,000 after acquiring an additional 71 shares during the last quarter. Global Wealth Strategies & Associates lifted its holdings in shares of CME Group by 1,250.0% during the 4th quarter. Global Wealth Strategies & Associates now owns 108 shares of the financial services provider's stock worth $30,000 after acquiring an additional 100 shares during the last quarter. Finally, Anfield Capital Management LLC lifted its holdings in shares of CME Group by 197.4% during the 4th quarter. Anfield Capital Management LLC now owns 113 shares of the financial services provider's stock worth $31,000 after acquiring an additional 75 shares during the last quarter. 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 business's 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 owned 55,630 shares in the company, valued at approximately $16,606,111.30. The trade was a 38.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Jonathan L. Marcus sold 3,291 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $333.37, for a total transaction of $1,097,120.67. Following the completion of the transaction, the general counsel owned 7,192 shares in the company, valued at $2,397,597.04. The trade was a 31.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 44,044 shares of company stock worth $13,297,507. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CME shares. JPMorgan Chase & Co. lifted their price objective on shares of CME Group from $266.00 to $271.00 and gave the stock an "underweight" rating in a report on Thursday, April 16th. Jefferies Financial Group dropped their price objective on shares of CME Group from $356.00 to $349.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, April 26th. TD Cowen decreased their target price on shares of CME Group from $340.00 to $323.00 and set a "buy" rating on the stock in a research report on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods assumed coverage on shares of CME Group in a research report on Wednesday, April 8th. They issued a "market perform" rating and a $305.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $305.29.

CME Group Price Performance

Shares of NASDAQ:CME opened at $291.23 on Monday. The stock has a market cap of $105.53 billion, a PE ratio of 24.85, a PEG ratio of 3.52 and a beta of 0.23. The company's fifty day moving average is $296.38 and its 200 day moving average is $289.29. CME Group Inc. has a 52 week low of $257.17 and a 52 week high of $329.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 EPS for the quarter, topping analysts' consensus estimates of $3.11 by $0.25. The company had revenue of $1.88 billion for the quarter, compared to analysts' expectations of $1.77 billion. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The firm's revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 EPS. Research analysts anticipate that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th will be given a $1.30 dividend. The ex-dividend date is Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. CME Group's payout ratio is presently 44.37%.

About CME Group

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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