Conning Inc. cut its stake in CME Group Inc. (NASDAQ:CME) by 96.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,020 shares of the company’s stock after selling 222,155 shares during the period. Conning Inc.’s holdings in CME Group were worth $781,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Parametrica Management Ltd bought a new position in CME Group during the second quarter worth $212,000. Franklin Resources Inc. bought a new position in CME Group during the first quarter worth $222,000. Financial Architects Inc bought a new position in CME Group during the second quarter worth $234,000. EFG Asset Management Americas Corp. bought a new position in CME Group during the first quarter worth $244,000. Finally, Windward Capital Management Co. CA raised its position in CME Group by 1.0% in the second quarter. Windward Capital Management Co. CA now owns 2,626 shares of the company’s stock worth $256,000 after buying an additional 25 shares during the last quarter. 80.29% of the stock is owned by institutional investors.
Shares of CME Group Inc. (NASDAQ:CME) traded down 1.50% during mid-day trading on Thursday, reaching $104.72. The company’s stock had a trading volume of 2,987,809 shares. The company has a 50-day moving average price of $106.80 and a 200 day moving average price of $99.08. The company has a market cap of $35.48 billion, a PE ratio of 26.44 and a beta of 0.85. CME Group Inc. has a 52-week low of $81.87 and a 52-week high of $110.35.
CME Group (NASDAQ:CME) last released its earnings results on Thursday, July 28th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.03. CME Group had a return on equity of 6.83% and a net margin of 38.22%. The firm earned $906 million during the quarter, compared to analysts’ expectations of $897.84 million. During the same quarter last year, the business posted $0.95 earnings per share. The firm’s revenue was up 10.5% on a year-over-year basis. Equities analysts expect that CME Group Inc. will post $4.44 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 26th. Investors of record on Friday, September 9th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, September 7th. CME Group’s dividend payout ratio is currently 60.61%.
A number of analysts have recently issued reports on CME shares. Jefferies Group lifted their price target on CME Group from $112.00 to $118.00 and gave the company a “buy” rating in a research report on Wednesday, August 31st. JPMorgan Chase & Co. set a $116.00 price target on CME Group and gave the company a “buy” rating in a research report on Monday, September 12th. Zacks Investment Research upgraded CME Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. Credit Suisse Group AG dropped their price target on CME Group from $100.00 to $94.00 and set a “neutral” rating for the company in a research report on Wednesday, June 1st. Finally, Deutsche Bank AG lifted their price target on CME Group from $110.00 to $111.00 and gave the company a “buy” rating in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $102.89.
In related news, insider Bryan T. Durkin sold 15,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $107.75, for a total transaction of $1,616,250.00. Following the completion of the sale, the insider now owns 63,967 shares in the company, valued at $6,892,444.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Phupinder Gill sold 30,002 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $110.00, for a total value of $3,300,220.00. Following the sale, the chief executive officer now owns 116,222 shares of the company’s stock, valued at approximately $12,784,420. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.
CME Group Company Profile
CME Group Inc is a provider of products across all major asset classes, based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals. The Company’s products include both exchange-traded and privately negotiated futures and options contracts and swaps. The Company connects buyers and sellers together through its CME Globex electronic trading platform across the globe and its open outcry trading facilities in Chicago and New York City.
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