SevenBridge Financial Group LLC Lowers Holdings in CME Group Inc (CME)
SevenBridge Financial Group LLC reduced its stake in shares of CME Group Inc (NASDAQ:CME) by 28.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 909 shares of the financial services provider’s stock after selling 367 shares during the quarter. SevenBridge Financial Group LLC’s holdings in CME Group were worth $123,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of CME. Hudock Capital Group LLC raised its stake in CME Group by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,890 shares of the financial services provider’s stock valued at $487,000 after buying an additional 20 shares during the last quarter. Ropes Wealth Advisors LLC raised its stake in CME Group by 0.4% in the second quarter. Ropes Wealth Advisors LLC now owns 10,801 shares of the financial services provider’s stock valued at $1,353,000 after buying an additional 38 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its stake in CME Group by 0.5% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 13,692 shares of the financial services provider’s stock valued at $1,715,000 after buying an additional 64 shares during the last quarter. Pitcairn Co. raised its stake in CME Group by 2.2% in the second quarter. Pitcairn Co. now owns 3,317 shares of the financial services provider’s stock valued at $416,000 after buying an additional 70 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in CME Group by 2.4% in the second quarter. IFP Advisors Inc now owns 2,998 shares of the financial services provider’s stock valued at $375,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.
CME Group Inc (NASDAQ:CME) opened at $150.79 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $51,135.15, a PE ratio of 31.55, a PEG ratio of 3.10 and a beta of 0.72. CME Group Inc has a 1-year low of $113.27 and a 1-year high of $152.14.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. The business had revenue of $890.80 million for the quarter, compared to analyst estimates of $890.22 million. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. sell-side analysts anticipate that CME Group Inc will post 4.78 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 27th. Stockholders of record on Friday, December 8th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date of this dividend is Thursday, December 7th. CME Group’s dividend payout ratio is presently 59.86%.
In related news, insider Hilda Harris Piell sold 714 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $129.00, for a total transaction of $92,106.00. Following the sale, the insider now directly owns 28,844 shares of the company’s stock, valued at $3,720,876. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey M. Bernacchi sold 1,501 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $149.75, for a total value of $224,774.75. Following the sale, the director now directly owns 60,194 shares in the company, valued at $9,014,051.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,510 shares of company stock worth $3,889,604. 0.57% of the stock is owned by corporate insiders.
A number of equities research analysts have commented on CME shares. Wells Fargo & Company increased their price target on CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a research note on Wednesday, October 4th. Royal Bank Of Canada increased their price target on CME Group from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Monday, October 16th. Barclays started coverage on CME Group in a research note on Friday, September 8th. They issued an “overweight” rating and a $139.00 price target for the company. BidaskClub raised CME Group from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $133.00 price objective on shares of CME Group in a report on Thursday, September 21st. One 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 company has an average rating of “Buy” and a consensus target price of $141.75.
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CME Group Company Profile
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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