Kentucky Retirement Systems Cuts Stake in CME Group Inc (CME)
Kentucky Retirement Systems lowered its holdings in CME Group Inc (NASDAQ:CME) by 40.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,563 shares of the financial services provider’s stock after selling 10,463 shares during the quarter. Kentucky Retirement Systems’ holdings in CME Group were worth $2,928,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of CME Group by 8.2% in the fourth quarter. BlackRock Inc. now owns 24,250,752 shares of the financial services provider’s stock worth $4,562,052,000 after buying an additional 1,828,640 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of CME Group by 18,502.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,220,459 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 16,133,266 shares during the last quarter. Capital International Investors increased its position in shares of CME Group by 18.3% during the third quarter. Capital International Investors now owns 15,425,378 shares of the financial services provider’s stock valued at $2,625,554,000 after acquiring an additional 2,383,280 shares during the last quarter. Capital Research Global Investors increased its position in shares of CME Group by 107.8% during the third quarter. Capital Research Global Investors now owns 10,906,683 shares of the financial services provider’s stock valued at $1,856,427,000 after acquiring an additional 5,658,108 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of CME Group by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 4,715,269 shares of the financial services provider’s stock valued at $885,776,000 after acquiring an additional 537,917 shares during the last quarter. Institutional investors own 84.84% of the company’s stock.
CME has been the subject of a number of recent analyst reports. Bank of America reiterated a “neutral” rating and set a $191.00 price target (down from $200.00) on shares of CME Group in a research report on Friday, January 11th. They noted that the move was a valuation call. JPMorgan Chase & Co. initiated coverage on shares of CME Group in a research report on Friday, February 15th. They set an “underweight” rating and a $164.00 price target for the company. UBS Group cut shares of CME Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $185.00 to $204.00 in a research report on Wednesday, November 28th. Jefferies Financial Group reiterated a “buy” rating and set a $204.00 price target on shares of CME Group in a research report on Wednesday, January 9th. Finally, BidaskClub cut shares of CME Group from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $191.93.
CME Group stock traded down $0.14 during trading hours on Thursday, reaching $162.44. 20,312 shares of the stock were exchanged, compared to its average volume of 2,090,610. The company has a market cap of $58.73 billion, a P/E ratio of 23.77, a PEG ratio of 2.08 and a beta of 0.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.01 and a current ratio of 1.01. CME Group Inc has a 52-week low of $153.90 and a 52-week high of $197.08.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, February 14th. The financial services provider reported $1.77 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.02. CME Group had a net margin of 45.53% and a return on equity of 9.85%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. CME Group’s quarterly revenue was up 37.4% on a year-over-year basis. As a group, equities analysts predict that CME Group Inc will post 7.04 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.85%. This is a boost from CME Group’s previous quarterly dividend of $0.70. The ex-dividend date was Thursday, March 7th. CME Group’s dividend payout ratio is presently 43.99%.
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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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