PNC Financial Services Group Inc. Boosts Stake in CME Group Inc. (NASDAQ:CME)

Key Points

• PNC Financial Services Group Inc. has increased its stake in CME Group Inc. by 0.8%, now owning 156,938 shares valued at approximately $41.6 million.
• Corporate insiders, including General Counsel Jonathan L. Marcus, have recently sold shares, with 5,750 shares totaling about $1.58 million sold in the past ninety days.
• CME Group recently reported quarterly earnings, with $2.96 earnings per share, exceeding analyst expectations and demonstrating a 10.4% revenue increase year-over-year.

PNC Financial Services Group Inc. lifted its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,938 shares of the financial services provider's stock after buying an additional 1,175 shares during the period. PNC Financial Services Group Inc.'s holdings in CME Group were worth $41,634,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Heartland Bank & Trust Co acquired a new stake in CME Group during the first quarter worth about $377,000. Catalyst Capital Advisors LLC increased its position in CME Group by 256.9% during the first quarter. Catalyst Capital Advisors LLC now owns 3,662 shares of the financial services provider's stock worth $971,000 after purchasing an additional 2,636 shares during the last quarter. OMNI 360 Wealth Inc. acquired a new stake in CME Group during the first quarter worth about $367,000. Fulcrum Equity Management acquired a new stake in CME Group during the first quarter worth about $258,000. Finally, Aspire Growth Partners LLC acquired a new stake in CME Group during the fourth quarter worth about $548,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CME Group

In related news, General Counsel Jonathan L. Marcus sold 390 shares of CME Group stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total value of $108,225.00. Following the completion of the transaction, the general counsel owned 6,708 shares in the company, valued at $1,861,470. The trade was a 5.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Phyllis M. Lockett sold 1,060 shares of CME Group stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $277.88, for a total transaction of $294,552.80. Following the completion of the transaction, the director owned 3,108 shares of the company's stock, valued at $863,651.04. This represents a 25.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,750 shares of company stock valued at $1,576,294. 0.30% of the stock is owned by corporate insiders.

CME Group Trading Up 0.9%

Shares of CME stock opened at $280.76 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $101.18 billion, a P/E ratio of 27.18, a price-to-earnings-growth ratio of 4.99 and a beta of 0.44. The company has a 50 day moving average price of $276.07 and a 200 day moving average price of $264.36. CME Group Inc. has a fifty-two week low of $196.62 and a fifty-two week high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.05. The firm had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.56 earnings per share. Equities research analysts predict that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 9th were issued a $1.25 dividend. The ex-dividend date was Monday, June 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group's payout ratio is 48.40%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CME. UBS Group restated a "neutral" rating and set a $305.00 price objective on shares of CME Group in a research report on Thursday, July 24th. Erste Group Bank cut shares of CME Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup raised their price objective on shares of CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Finally, Barclays set a $298.00 price target on shares of CME Group and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, CME Group has an average rating of "Hold" and a consensus price target of $261.93.

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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