CI Investments Inc. Raises Stock Position in CME Group Inc. $CME

CI Investments Inc. raised its holdings in shares of CME Group Inc. (NASDAQ:CME) by 200.3% during the first quarter, Holdings Channel.com reports. The fund owned 4,294 shares of the financial services provider’s stock after buying an additional 2,864 shares during the period. CI Investments Inc.’s holdings in CME Group were worth $1,268,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Asset Dedication LLC increased its stake in CME Group by 64.9% in the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its stake in CME Group by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,523 shares of the financial services provider’s stock worth $3,147,000 after purchasing an additional 37 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of CME Group by 4.3% in the third quarter. Rehmann Capital Advisory Group now owns 898 shares of the financial services provider’s stock valued at $243,000 after purchasing an additional 37 shares during the period. Sovran Advisors LLC boosted its holdings in CME Group by 3.5% during the fourth quarter. Sovran Advisors LLC now owns 1,118 shares of the financial services provider’s stock worth $305,000 after buying an additional 38 shares in the last quarter. Finally, Endowment Wealth Management Inc. increased its position in shares of CME Group by 4.4% during the fourth quarter. Endowment Wealth Management Inc. now owns 895 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 38 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Hilda Harris Piell sold 5,753 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $304.63, for a total transaction of $1,752,536.39. Following the completion of the transaction, the insider owned 27,702 shares in the company, valued at $8,438,860.26. This represents a 17.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William R. Shepard acquired 325 shares of the stock in a transaction dated Thursday, June 25th. The stock was acquired at an average cost of $230.57 per share, with a total value 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 trade represents a 0.12% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the subject of several analyst reports. Bank of America upped their price target on CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a research note on Thursday. Erste Group Bank lowered CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. UBS Group dropped 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. JPMorgan Chase & Co. lifted their target price on CME Group from $249.00 to $250.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, Morgan Stanley upped their price target on CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $291.81.

CME Group News Roundup

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: CME Group’s Q2 results topped expectations, and the stock was reported higher on the earnings beat. US Stock Market: CME shares jump 6% after Q2 profit beats estimates; strong hedging demand boosts results
• Positive Sentiment: Analysts noted strong fundamentals and at least one rating upgrade following the earnings release, which can support investor confidence. CME Group: Q2 Earnings Results Lead To A Rating Upgrade
• Neutral Sentiment: UBS reiterated a Hold rating and kept its $260 target, signaling solid fundamentals but limited upside at current valuation. Neutral Stance Reiterated on CME as Solid Fundamentals Meet Valuation Limits; $260 Price Target Maintained
• Negative Sentiment: Bank of America and JPMorgan both maintained bearish/underweight views, even though they slightly raised price targets, highlighting ongoing caution about upside. Analyst price target updates
• Negative Sentiment: Short-interest data showed no meaningful short position, so this headline is unlikely to be a real stock driver and does not change the core thesis.

CME Group Stock Performance

Shares of NASDAQ:CME opened at $255.31 on Friday. The company’s 50 day moving average price is $254.13 and its two-hundred day moving average price is $281.22. CME Group Inc. has a 12-month low of $218.31 and a 12-month 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 has a market cap of $92.51 billion, a PE ratio of 21.65, a PEG ratio of 3.16 and a beta of 0.25.

CME Group (NASDAQ:CME) last posted 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 company had revenue of $1.71 billion for 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 firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.96 EPS. Equities research analysts predict that CME Group Inc. will post 12.18 earnings per share for the current year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 9th. CME Group’s dividend payout ratio (DPR) is presently 44.11%.

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.