Riverpark Capital Management LLC Acquires 28,318 Shares of CME Group Inc. (CME)
Riverpark Capital Management LLC raised its position in shares of CME Group Inc. (NASDAQ:CME) by 15.4% during the second quarter, Holdings Channel reports. The institutional investor owned 211,868 shares of the financial services provider’s stock after buying an additional 28,318 shares during the period. CME Group comprises about 3.1% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 17th largest position. Riverpark Capital Management LLC’s holdings in CME Group were worth $26,534,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of CME. RMB Capital Management LLC increased its stake in shares of CME Group by 3.1% in the first quarter. RMB Capital Management LLC now owns 114,834 shares of the financial services provider’s stock worth $13,642,000 after buying an additional 3,501 shares during the period. Profund Advisors LLC increased its stake in shares of CME Group by 4.2% in the first quarter. Profund Advisors LLC now owns 11,222 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 457 shares during the period. Thrivent Financial For Lutherans increased its stake in shares of CME Group by 5.6% in the first quarter. Thrivent Financial For Lutherans now owns 12,500 shares of the financial services provider’s stock worth $1,485,000 after buying an additional 660 shares during the period. Parsons Capital Management Inc. RI purchased a new stake in shares of CME Group during the first quarter worth $569,000. Finally, Dowling & Yahnke LLC increased its stake in shares of CME Group by 1.7% in the first quarter. Dowling & Yahnke LLC now owns 6,844 shares of the financial services provider’s stock worth $813,000 after buying an additional 114 shares during the period. 83.25% of the stock is owned by hedge funds and other institutional investors.
CME Group Inc. (NASDAQ CME) opened at 124.68 on Tuesday. The firm has a market capitalization of $42.38 billion, a PE ratio of 25.45 and a beta of 0.73. CME Group Inc. has a 52-week low of $98.95 and a 52-week high of $127.96. The company’s 50-day moving average is $123.43 and its 200-day moving average is $121.02.
CME Group (NASDAQ:CME) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.03. CME Group had a net margin of 46.05% and a return on equity of 7.61%. The business had revenue of $925 million during the quarter, compared to analyst estimates of $931.05 million. During the same period in the previous year, the business posted $1.14 earnings per share. CME Group’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts forecast that CME Group Inc. will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 25th. Shareholders of record on Friday, September 8th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.64 annualized dividend and a yield of 2.12%. CME Group’s payout ratio is presently 53.99%.
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CME has been the subject of a number of recent analyst reports. Deutsche Bank AG cut their price target on shares of CME Group from $137.00 to $134.00 and set a “buy” rating for the company in a report on Friday, April 28th. Jefferies Group LLC reaffirmed a “buy” rating and set a $134.00 price target (up previously from $128.00) on shares of CME Group in a report on Monday, July 17th. Royal Bank Of Canada cut their price target on shares of CME Group from $133.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, May 1st. Finally, BidaskClub raised shares of CME Group from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $131.63.
In other CME Group news, insider Sunil Cutinho sold 10,265 shares of CME Group stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $117.85, for a total transaction of $1,209,730.25. Following the transaction, the insider now directly owns 21,690 shares of the company’s stock, valued at $2,556,166.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek Sammann sold 2,100 shares of CME Group stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $117.86, for a total transaction of $247,506.00. Following the transaction, the insider now directly owns 31,026 shares in the company, valued at $3,656,724.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 91,085 shares of company stock valued at $11,242,896. 0.61% of the stock is currently owned by company insiders.
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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