CME Group Inc (NASDAQ:CME) Shares Bought by Pinnacle Financial Partners Inc.
Pinnacle Financial Partners Inc. grew its stake in shares of CME Group Inc (NASDAQ:CME) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,234 shares of the financial services provider’s stock after purchasing an additional 71 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in CME Group were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in CME Group by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,715,269 shares of the financial services provider’s stock worth $885,776,000 after purchasing an additional 537,917 shares during the last quarter. Moors & Cabot Inc. purchased a new position in shares of CME Group during the 1st quarter worth approximately $204,000. Victory Capital Management Inc. lifted its holdings in CME Group by 189.8% in the first quarter. Victory Capital Management Inc. now owns 98,067 shares of the financial services provider’s stock valued at $16,140,000 after acquiring an additional 64,233 shares during the period. Bbva Compass Bancshares Inc. grew its stake in shares of CME Group by 41.1% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 1,017 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 296 shares during the period. Finally, Goelzer Investment Management Inc. purchased a new position in shares of CME Group in the 1st quarter valued at about $280,000. Institutional investors and hedge funds own 84.99% of the company’s stock.
CME stock traded down $2.04 during midday trading on Wednesday, hitting $203.39. The stock had a trading volume of 181,343 shares, compared to its average volume of 998,498. The company’s 50-day moving average price is $211.21 and its 200 day moving average price is $190.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $77.20 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 4.79 and a beta of 0.19. CME Group Inc has a 12-month low of $161.05 and a 12-month high of $224.91.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.00 annualized dividend and a yield of 1.47%. CME Group’s dividend payout ratio (DPR) is presently 43.99%.
In other news, Director Daniel R. Glickman sold 500 shares of CME Group stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $216.01, for a total transaction of $108,005.00. Following the sale, the director now owns 14,593 shares in the company, valued at $3,152,233.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sean Tully sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $223.13, for a total value of $1,606,536.00. Following the sale, the insider now owns 19,923 shares of the company’s stock, valued at approximately $4,445,418.99. The disclosure for this sale can be found here. Insiders sold 59,626 shares of company stock worth $12,255,934 over the last three months. Corporate insiders own 1.20% of the company’s stock.
Several research analysts have weighed in on the stock. Deutsche Bank upped their target price on shares of CME Group from $224.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Co boosted their price target on CME Group from $176.00 to $200.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 3rd. UBS Group upped their price target on CME Group from $191.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Zacks Investment Research cut CME Group from a “hold” rating to a “sell” rating and set a $158.00 price objective for the company. in a report on Monday, May 27th. Finally, Barclays boosted their price objective on shares of CME Group from $191.00 to $197.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $196.85.
CME Group Company Profile
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.
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