ING Groep NV Boosts Stake in CME Group Inc. (CME)
ING Groep NV raised its stake in CME Group Inc. (NASDAQ:CME) by 36.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,147 shares of the financial services provider’s stock after acquiring an additional 11,989 shares during the quarter. ING Groep NV’s holdings in CME Group were worth $6,126,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Fiduciary Trust Co. acquired a new position in shares of CME Group in the second quarter valued at approximately $105,000. Quadrant Capital Group LLC increased its stake in shares of CME Group by 13.6% in the second quarter. Quadrant Capital Group LLC now owns 944 shares of the financial services provider’s stock valued at $111,000 after buying an additional 113 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in shares of CME Group in the second quarter valued at approximately $129,000. Whittier Trust Co. increased its stake in shares of CME Group by 2.6% in the second quarter. Whittier Trust Co. now owns 1,057 shares of the financial services provider’s stock valued at $133,000 after buying an additional 27 shares during the period. Finally, People s United Financial Inc. increased its stake in shares of CME Group by 11.5% in the second quarter. People s United Financial Inc. now owns 1,063 shares of the financial services provider’s stock valued at $133,000 after buying an additional 110 shares during the period. 82.58% of the stock is owned by hedge funds and other institutional investors.
Shares of CME Group Inc. (CME) traded down $0.71 during mid-day trading on Thursday, hitting $141.87. 1,040,600 shares of the stock traded hands, compared to its average volume of 1,353,906. The firm has a market cap of $48,351.02, a P/E ratio of 29.83, a price-to-earnings-growth ratio of 2.93 and a beta of 0.71. CME Group Inc. has a one year low of $111.19 and a one year high of $143.99. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.16 by $0.03. The company had revenue of $890.80 million during the quarter, compared to the consensus estimate of $890.22 million. CME Group had a net margin of 40.94% and a return on equity of 7.89%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. equities analysts expect that CME Group Inc. will post 4.78 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Thursday, December 7th. CME Group’s payout ratio is 59.86%.
Several research analysts have recently issued reports on the company. Barclays PLC upped their price objective on CME Group from $139.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday, October 10th. Wells Fargo & Company increased their target price on shares of CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a research report on Wednesday, October 4th. Royal Bank Of Canada increased their target price on shares of CME Group from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Monday, October 16th. Citigroup Inc. increased their target price on shares of CME Group from $138.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Finally, BidaskClub downgraded shares of CME Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $141.75.
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In related news, insider Sunil Cutinho sold 2,600 shares of CME Group stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $139.57, for a total value of $362,882.00. Following the completion of the sale, the insider now owns 22,301 shares of the company’s stock, valued at approximately $3,112,550.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John W. Pietrowicz sold 5,175 shares of CME Group stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $139.70, for a total value of $722,947.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,939 shares of company stock worth $1,910,968 over the last quarter. Company insiders own 0.57% of the company’s stock.
About CME Group
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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