GW&K Investment Management LLC grew its holdings in CME Group Inc (NASDAQ:CME) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 169,186 shares of the financial services provider’s stock after acquiring an additional 478 shares during the quarter. GW&K Investment Management LLC’s holdings in CME Group were worth $35,756,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC raised its stake in shares of CME Group by 18,355.3% in the second quarter. Nuveen Asset Management LLC now owns 3,238,530 shares of the financial services provider’s stock worth $628,631,000 after purchasing an additional 3,220,982 shares during the last quarter. Parnassus Investments CA purchased a new position in shares of CME Group in the second quarter worth about $544,292,000. Magellan Asset Management Ltd purchased a new position in shares of CME Group in the second quarter worth about $418,297,000. Fiera Capital Corp raised its stake in shares of CME Group by 17.0% in the second quarter. Fiera Capital Corp now owns 2,960,477 shares of the financial services provider’s stock worth $574,658,000 after purchasing an additional 429,235 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its stake in shares of CME Group by 30.4% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 1,664,500 shares of the financial services provider’s stock worth $323,097,000 after purchasing an additional 388,008 shares during the last quarter. 84.80% of the stock is owned by institutional investors and hedge funds.
In other CME Group news, Director Daniel R. Glickman sold 500 shares of CME Group stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $216.01, for a total value of $108,005.00. Following the sale, the director now owns 14,593 shares in the company, valued at $3,152,233.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sean Tully sold 7,200 shares of CME Group stock in a transaction on Friday, September 6th. The shares were sold at an average price of $223.13, for a total value of $1,606,536.00. Following the completion of the sale, the insider now owns 19,923 shares in the company, valued at approximately $4,445,418.99. The disclosure for this sale can be found here. Insiders have sold 13,636 shares of company stock worth $3,001,008 in the last three months. 1.20% of the stock is currently owned by corporate insiders.
CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. CME Group had a return on equity of 9.54% and a net margin of 40.93%. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 earnings per share. Research analysts expect that CME Group Inc will post 6.91 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 10th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Monday, December 9th. CME Group’s dividend payout ratio (DPR) is currently 43.99%.
Several research analysts recently weighed in on the company. Berenberg Bank cut CME Group from a “buy” rating to a “hold” rating and reduced their price target for the company from $236.00 to $227.00 in a research report on Thursday, September 19th. Oppenheimer assumed coverage on CME Group in a research report on Monday, September 16th. They set an “outperform” rating and a $234.00 price target for the company. Deutsche Bank lifted their price target on CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. UBS Group reduced their price target on CME Group from $220.00 to $218.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, ValuEngine cut CME Group from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $203.36.
CME Group 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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