NewEdge Wealth LLC Takes $1.76 Million Position in CME Group Inc. $CME

Key Points

• NewEdge Wealth purchased 7,959 CME Group shares worth approximately $1.76 million in the second quarter, while institutional investors collectively own 87.75% of the company.
• CME Group exceeded quarterly expectations, reporting $2.99 earnings per share and $1.71 billion in revenue. The company also declared a quarterly dividend of $1.30, equivalent to a 1.9% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $288.56, compared with the stock’s reported price of $270.87.

NewEdge Wealth LLC purchased a new stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,959 shares of the financial services provider's stock, valued at approximately $1,758,000.

A number of other hedge funds have also bought and sold shares of CME. Vanguard Group Inc. increased its position in shares of CME Group by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 35,895,583 shares of the financial services provider's stock valued at $9,802,366,000 after purchasing an additional 588,509 shares during the last quarter. BlackRock Inc. purchased a new position in shares of CME Group in the 2nd quarter worth about $6,749,965,000. State Street Corp boosted its holdings in shares of CME Group by 0.4% in the 4th quarter. State Street Corp now owns 16,144,525 shares of the financial services provider's stock worth $4,408,747,000 after buying an additional 56,725 shares during the last quarter. Norges Bank bought a new position in CME Group during the fourth quarter valued at about $1,523,241,000. Finally, Bank of New York Mellon Corp grew its position in CME Group by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider's stock valued at $1,344,776,000 after buying an additional 134,242 shares during the period. 87.75% of the stock is currently owned by institutional investors.

CME Group Price Performance

NASDAQ CME opened at $270.87 on Friday. The company has a market cap of $97.40 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 3.11 and a beta of 0.23. CME Group Inc. has a 52 week low of $218.31 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. The firm's 50-day simple moving average is $251.06 and its two-hundred day simple moving average is $279.68.

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

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a yield of 1.9%. CME Group's dividend payout ratio (DPR) is 44.11%.

Insiders Place Their Bets

In other CME Group news, Director William R. Shepard acquired 325 shares of CME Group stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the purchase, the director owned 260,442 shares of the company's stock, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

CME has been the topic of several research reports. JPMorgan Chase & Co. lifted their price objective on shares of CME Group from $249.00 to $250.00 and gave the stock an "underweight" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group reduced their target price on shares of CME Group from $267.00 to $245.00 and set a "sell" rating for the company in a research report on Tuesday, June 30th. UBS Group decreased their price target on shares of CME Group from $310.00 to $260.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Bank of America lifted their price target on shares of CME Group from $226.00 to $230.00 and gave the stock an "underperform" rating in a report on Thursday, July 23rd. Finally, Rothschild & Co Redburn upgraded CME Group from a "neutral" rating to a "buy" rating and upped their price objective for the company from $316.00 to $323.00 in a research note on Thursday, June 11th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $288.56.

CME Group 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.

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