Soros Fund Management LLC Acquires 3,609 Shares of CME Group Inc (CME)
Soros Fund Management LLC lifted its holdings in CME Group Inc (NASDAQ:CME) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,636 shares of the financial services provider’s stock after buying an additional 3,609 shares during the quarter. Soros Fund Management LLC’s holdings in CME Group were worth $13,054,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position in CME Group by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,207,970 shares of the financial services provider’s stock valued at $198,011,000 after purchasing an additional 37,225 shares during the last quarter. Oak Ridge Investments LLC grew its position in CME Group by 6.2% during the 2nd quarter. Oak Ridge Investments LLC now owns 5,247 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 306 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in CME Group by 0.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,207,504 shares of the financial services provider’s stock valued at $195,303,000 after purchasing an additional 10,929 shares during the last quarter. Underhill Investment Management LLC grew its position in CME Group by 2.0% during the 2nd quarter. Underhill Investment Management LLC now owns 88,300 shares of the financial services provider’s stock valued at $14,474,000 after purchasing an additional 1,750 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in CME Group during the 1st quarter valued at about $17,727,000. 84.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Ronald A. Pankau sold 260 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $163.17, for a total value of $42,424.20. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $636,363. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Bryan T. Durkin sold 11,509 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $162.01, for a total transaction of $1,864,573.09. Following the completion of the transaction, the president now owns 64,862 shares in the company, valued at approximately $10,508,292.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,888 shares of company stock worth $4,882,542. Insiders own 0.57% of the company’s stock.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. CME Group had a net margin of 111.45% and a return on equity of 9.03%. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. equities research analysts forecast that CME Group Inc will post 6.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 25th. Stockholders of record on Monday, September 10th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Friday, September 7th. CME Group’s payout ratio is presently 58.70%.
Several analysts recently commented on CME shares. BidaskClub raised shares of CME Group from a “hold” rating to a “buy” rating in a research report on Monday, July 16th. Zacks Investment Research downgraded shares of CME Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Jefferies Financial Group reissued a “buy” rating and set a $190.00 price objective on shares of CME Group in a research report on Wednesday, September 5th. Wells Fargo & Co increased their price objective on shares of CME Group from $170.00 to $175.00 and gave the company a “market perform” rating in a research report on Monday, July 9th. Finally, Rosenblatt Securities started coverage on shares of CME Group in a research report on Wednesday, September 5th. They set a “neutral” rating and a $177.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. CME Group presently has an average rating of “Buy” and a consensus target price of $174.40.
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 products, and metals.
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