Sumitomo Life Insurance Co. decreased its holdings in CME Group Inc (NASDAQ:CME) by 11.2% during the 1st quarter, Holdings Channel reports. The firm owned 17,796 shares of the financial services provider’s stock after selling 2,246 shares during the period. Sumitomo Life Insurance Co.’s holdings in CME Group were worth $2,929,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its position in CME Group by 8.2% during the fourth quarter. BlackRock Inc. now owns 24,250,752 shares of the financial services provider’s stock valued at $4,562,052,000 after acquiring an additional 1,828,640 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in 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. FMR LLC boosted its position in CME Group by 114.7% during the fourth quarter. FMR LLC now owns 6,198,088 shares of the financial services provider’s stock valued at $1,165,984,000 after acquiring an additional 3,310,989 shares during the last quarter. Geode Capital Management LLC boosted its position in 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. Finally, Northern Trust Corp boosted its position in CME Group by 7.6% during the fourth quarter. Northern Trust Corp now owns 4,169,737 shares of the financial services provider’s stock valued at $784,411,000 after acquiring an additional 293,957 shares during the last quarter. 84.84% of the stock is currently owned by institutional investors.
CME opened at $174.47 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.15. CME Group Inc has a fifty-two week low of $153.90 and a fifty-two week high of $197.08. The stock has a market capitalization of $62.23 billion, a P/E ratio of 25.58, a price-to-earnings-growth ratio of 3.54 and a beta of 0.29.
CME Group (NASDAQ:CME) last posted its earnings results on Thursday, February 14th. The financial services provider reported $1.77 earnings per share 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 for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the business posted $1.12 EPS. The firm’s revenue was up 37.4% compared to the same quarter last year. Equities analysts forecast that CME Group Inc will post 6.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Friday, March 8th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Thursday, March 7th. This is a positive change from CME Group’s previous quarterly dividend of $0.70. CME Group’s dividend payout ratio is currently 43.99%.
In related news, CFO John W. Pietrowicz sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $168.27, for a total value of $420,675.00. Following the sale, the chief financial officer now owns 35,354 shares in the company, valued at approximately $5,949,017.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey M. Bernacchi sold 10,087 shares of the company’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $177.94, for a total transaction of $1,794,880.78. Following the completion of the sale, the director now owns 42,004 shares in the company, valued at approximately $7,474,191.76. The disclosure for this sale can be found here. Insiders sold a total of 28,489 shares of company stock worth $4,948,996 in the last 90 days. 1.20% of the stock is currently owned by company insiders.
A number of analysts have commented on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $204.00 price target on shares of CME Group in a research report on Wednesday, January 9th. BidaskClub cut shares of CME Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 9th. Bank of America reissued a “neutral” rating and set a $191.00 price objective (down previously 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. started coverage on shares of CME Group in a research report on Friday, February 15th. They set an “underweight” rating and a $164.00 price objective on the stock. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $210.00 price objective on shares of CME Group in a research report on Friday, February 15th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. CME Group currently has an average rating of “Hold” and a consensus target price of $192.00.
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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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