State Street Corp Trims Stake in CME Group Inc. (CME)
State Street Corp trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,397,684 shares of the financial services provider’s stock after selling 301,988 shares during the quarter. State Street Corp owned approximately 5.12% of CME Group worth $2,178,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Gotham Asset Management LLC lifted its holdings in shares of CME Group by 102.7% during the 2nd quarter. Gotham Asset Management LLC now owns 37,922 shares of the financial services provider’s stock valued at $4,749,000 after buying an additional 19,217 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of CME Group by 13,530.7% during the 2nd quarter. Janus Henderson Group PLC now owns 6,150,016 shares of the financial services provider’s stock valued at $770,227,000 after buying an additional 6,104,897 shares during the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of CME Group during the 2nd quarter valued at about $129,000. Cambria Investment Management L.P. bought a new position in shares of CME Group in the 2nd quarter valued at approximately $2,064,000. Finally, Fred Alger Management Inc. raised its stake in shares of CME Group by 123.1% in the 2nd quarter. Fred Alger Management Inc. now owns 56,145 shares of the financial services provider’s stock valued at $7,032,000 after acquiring an additional 30,976 shares in the last quarter. Institutional investors and hedge funds own 82.64% of the company’s stock.
In other CME Group news, Chairman Terrence A. Duffy sold 21,815 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $123.89, for a total value of $2,702,660.35. Following the sale, the chairman now owns 110,711 shares in the company, valued at $13,715,985.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO John W. Pietrowicz sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $124.50, for a total value of $311,250.00. Following the completion of the sale, the chief financial officer now owns 38,495 shares in the company, valued at approximately $4,792,627.50. The disclosure for this sale can be found here. Insiders sold 48,244 shares of company stock worth $6,021,890 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.
Shares of CME Group Inc. (NASDAQ:CME) traded down 0.85% on Friday, reaching $136.84. The company’s stock had a trading volume of 451,267 shares. The firm has a market cap of $46.51 billion, a price-to-earnings ratio of 27.93 and a beta of 0.73. The company’s 50 day moving average is $130.30 and its 200-day moving average is $123.13. CME Group Inc. has a 1-year low of $98.95 and a 1-year high of $138.39.
CME Group (NASDAQ:CME) last issued its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.20 by $0.03. CME Group had a return on equity of 7.61% and a net margin of 46.05%. The firm had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $931.05 million. During the same period in the prior year, the firm posted $1.14 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that CME Group Inc. will post $4.82 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 25th. Shareholders of record on Friday, September 8th were paid a $0.66 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.64 annualized dividend and a yield of 1.91%. CME Group’s dividend payout ratio is 53.99%.
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CME has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $130.00 price objective on CME Group and gave the company a “buy” rating in a research note on Monday, June 12th. BidaskClub raised CME Group from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. Deutsche Bank AG cut their price objective on CME Group from $139.00 to $136.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC reissued a “buy” rating and issued a $128.00 price objective on shares of CME Group in a research note on Monday, July 10th. Finally, Zacks Investment Research downgraded CME Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $134.78.
CME Group 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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