OVERSEA CHINESE BANKING Corp Ltd Purchases New Position in CME Group Inc. (NASDAQ:CME)

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in CME Group Inc. (NASDAQ:CME - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,708 shares of the financial services provider's stock, valued at approximately $718,000.

A number of other large investors also recently modified their holdings of the stock. Bank Pictet & Cie Europe AG raised its stake in shares of CME Group by 29.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 86,941 shares of the financial services provider's stock worth $20,190,000 after buying an additional 19,533 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in CME Group during the 4th quarter worth $268,000. Commonwealth Equity Services LLC raised its position in shares of CME Group by 5.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 67,357 shares of the financial services provider's stock valued at $15,642,000 after acquiring an additional 3,644 shares during the last quarter. Choate Investment Advisors lifted its stake in shares of CME Group by 8.2% in the 4th quarter. Choate Investment Advisors now owns 1,418 shares of the financial services provider's stock valued at $329,000 after purchasing an additional 107 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of CME Group by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 93,568 shares of the financial services provider's stock worth $21,731,000 after purchasing an additional 845 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CME Group news, Director Charles P. Carey sold 500 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $265.35, for a total transaction of $132,675.00. Following the transaction, the director owned 4,900 shares of the company's stock, valued at $1,300,215. The trade was a 9.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phyllis M. Lockett sold 1,060 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $277.88, for a total value of $294,552.80. Following the completion of the sale, the director directly owned 3,108 shares of the company's stock, valued at approximately $863,651.04. The trade was a 25.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,400 shares of company stock worth $3,680,610 in the last quarter. 0.30% of the stock is owned by company insiders.

CME Group Stock Up 0.9%

CME traded up $2.53 during trading hours on Wednesday, hitting $277.53. 2,452,200 shares of the company's stock were exchanged, compared to its average volume of 2,177,571. The stock has a market cap of $100.01 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 4.83 and a beta of 0.44. CME Group Inc. has a 1-year low of $193.25 and a 1-year high of $290.79. The stock's 50-day moving average is $276.31 and its two-hundred day moving average is $259.92. 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 released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.61 by $0.19. CME Group had a return on equity of 14.03% and a net margin of 57.71%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. CME Group's quarterly revenue was up 10.4% on a year-over-year basis. Sell-side analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Monday, June 9th. CME Group's dividend payout ratio is currently 50.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CME. UBS Group upped their price objective on CME Group from $290.00 to $305.00 and gave the company a "buy" rating in a report on Friday, April 25th. Barclays boosted their price objective on shares of CME Group from $283.00 to $299.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Citigroup increased their target price on shares of CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods lifted their price target 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. Finally, Wall Street Zen downgraded CME Group from a "hold" rating to a "sell" rating in a research note on Sunday. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $261.80.

CME Group Company Profile

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.