Merit Financial Group LLC grew its stake in CME Group Inc. (NASDAQ:CME – Free Report) by 47.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,797 shares of the financial services provider’s stock after acquiring an additional 1,863 shares during the period. Merit Financial Group LLC’s holdings in CME Group were worth $1,346,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of CME. Coronation Fund Managers Ltd. bought a new position in shares of CME Group in the second quarter worth about $313,000. American Century Companies Inc. raised its stake in shares of CME Group by 2.8% during the second quarter. American Century Companies Inc. now owns 47,606 shares of the financial services provider’s stock worth $9,359,000 after buying an additional 1,294 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of CME Group by 8.5% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,810 shares of the financial services provider’s stock worth $356,000 after buying an additional 142 shares during the last quarter. King Luther Capital Management Corp raised its stake in shares of CME Group by 3.5% during the second quarter. King Luther Capital Management Corp now owns 4,408 shares of the financial services provider’s stock worth $867,000 after buying an additional 148 shares during the last quarter. Finally, AE Wealth Management LLC bought a new stake in shares of CME Group during the second quarter worth approximately $200,000. 87.75% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
CME has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research note on Thursday, October 3rd. TD Cowen initiated coverage on shares of CME Group in a research note on Thursday, September 26th. They set a “hold” rating and a $221.00 price target for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Redburn Atlantic cut shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price objective for the company. in a report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price objective on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $229.27.
Insider Transactions at CME Group
In other CME Group news, Director Martin J. Gepsman sold 400 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the sale, the director now directly owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy S. Bitsberger sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total transaction of $226,960.00. Following the sale, the director now directly owns 10,589 shares in the company, valued at $2,403,279.44. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,274 shares of company stock valued at $1,648,071 over the last 90 days. 0.30% of the stock is owned by corporate insiders.
CME Group Stock Up 0.2 %
CME Group stock opened at $232.71 on Tuesday. The stock has a market capitalization of $83.86 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 4.93 and a beta of 0.56. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $249.02. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average of $233.29 and a 200-day moving average of $220.09.
CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.03. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. On average, equities research analysts anticipate that CME Group Inc. will post 10.2 EPS for the current fiscal year.
CME Group Increases Dividend
The firm also recently disclosed a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were given a $5.80 dividend. The ex-dividend date was Friday, December 27th. This is a positive change from CME Group’s previous dividend of $2.50. CME Group’s payout ratio is currently 48.37%.
CME Group announced that its board has initiated a stock buyback program on Thursday, December 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
About CME Group
CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.
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