Cambria Investment Management L.P. Has $6.14 Million Holdings in CME Group Inc (CME)
Cambria Investment Management L.P. boosted its holdings in CME Group Inc (NASDAQ:CME) by 174.5% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 45,250 shares of the financial services provider’s stock after buying an additional 28,768 shares during the period. CME Group accounts for approximately 0.9% of Cambria Investment Management L.P.’s holdings, making the stock its 24th biggest position. Cambria Investment Management L.P.’s holdings in CME Group were worth $6,139,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CME. Vanguard Group Inc. grew its position in shares of CME Group by 2.5% during the second quarter. Vanguard Group Inc. now owns 22,795,894 shares of the financial services provider’s stock valued at $2,854,958,000 after purchasing an additional 563,460 shares in the last quarter. Capital International Investors grew its position in shares of CME Group by 11.4% during the third quarter. Capital International Investors now owns 12,489,045 shares of the financial services provider’s stock valued at $1,694,514,000 after purchasing an additional 1,279,058 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of CME Group by 13,530.7% during the second quarter. Janus Henderson Group PLC now owns 6,150,016 shares of the financial services provider’s stock valued at $770,227,000 after purchasing an additional 6,104,897 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of CME Group by 25.5% during the second quarter. Wells Fargo & Company MN now owns 4,379,568 shares of the financial services provider’s stock valued at $548,496,000 after purchasing an additional 889,217 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its position in shares of CME Group by 5.4% during the third quarter. Thornburg Investment Management Inc. now owns 3,902,886 shares of the financial services provider’s stock valued at $529,544,000 after purchasing an additional 200,483 shares in the last quarter. Institutional investors and hedge funds own 83.17% of the company’s stock.
CME Group Inc (NASDAQ:CME) opened at $152.82 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. CME Group Inc has a 1-year low of $113.27 and a 1-year high of $155.29. The company has a market cap of $52,000.00, a PE ratio of 31.97, a P/E/G ratio of 3.14 and a beta of 0.73.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.03. CME Group had a net margin of 40.94% and a return on equity of 7.89%. The firm had revenue of $890.80 million during the quarter, compared to the consensus estimate of $890.22 million. During the same quarter last year, the firm earned $1.05 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. research analysts expect that CME Group Inc will post 4.78 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Friday, December 8th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date is Thursday, December 7th. CME Group’s payout ratio is 59.86%.
A number of research analysts have recently weighed in on CME shares. Citigroup raised their price objective on CME Group from $138.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. BidaskClub lowered CME Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. UBS restated a “buy” rating and set a $135.00 price objective (up previously from $134.00) on shares of CME Group in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $127.00 price target on shares of CME Group in a report on Friday, August 18th. Finally, Wells Fargo & Company increased their price target on shares of CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a report on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $141.75.
In other CME Group news, insider Kimberly S. Taylor sold 8,125 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $150.00, for a total value of $1,218,750.00. Following the completion of the sale, the insider now owns 120,590 shares of the company’s stock, valued at $18,088,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Hilda Harris Piell sold 1,350 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $138.00, for a total transaction of $186,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,171 shares of company stock valued at $4,919,243. 0.57% of the stock is owned by insiders.
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CME Group Profile
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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