Cinctive Capital Management LP Makes New Investment in CME Group Inc. $CME

Cinctive Capital Management LP purchased a new position in shares of CME Group Inc. (NASDAQ:CME) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 7,318 shares of the financial services provider’s stock, valued at approximately $1,977,000.

Several other hedge funds also recently modified their holdings of CME. Caldwell Trust Co raised its stake in CME Group by 116.3% during the 3rd quarter. Caldwell Trust Co now owns 93 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in CME Group in the 3rd quarter worth $27,000. Financial Consulate Inc. acquired a new stake in CME Group in the 3rd quarter worth $28,000. Sagard Holdings Management Inc. bought a new position in shares of CME Group during the 2nd quarter worth about $30,000. Finally, Corundum Trust Company INC bought a new position in shares of CME Group during the 3rd quarter worth about $30,000. 87.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Raymond James Financial reduced their target price on shares of CME Group from $311.00 to $310.00 and set an “outperform” rating for the company in a research note on Wednesday, February 4th. UBS Group restated a “neutral” rating and set a $310.00 price target on shares of CME Group in a research note on Friday, February 6th. Weiss Ratings raised CME Group from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on CME Group from $312.00 to $316.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Rothschild & Co Redburn boosted their price objective on CME Group from $333.00 to $347.00 and gave the company a “neutral” rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $304.06.

CME Group Stock Performance

NASDAQ CME opened at $313.83 on Tuesday. CME Group Inc. has a twelve month low of $248.53 and a twelve month high of $329.16. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a market cap of $113.17 billion, a P/E ratio of 28.12, a PEG ratio of 3.36 and a beta of 0.24. The company’s 50-day simple moving average is $296.58 and its 200 day simple moving average is $279.39.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, February 4th. The financial services provider reported $2.77 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $0.02. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. CME Group had a net margin of 62.45% and a return on equity of 14.65%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.52 earnings per share. As a group, research analysts forecast that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Tuesday, March 10th will be given a dividend of $1.30 per share. This is a boost from CME Group’s previous quarterly dividend of $1.25. The ex-dividend date is Tuesday, March 10th. This represents a $5.20 annualized dividend and a dividend yield of 1.7%. CME Group’s dividend payout ratio is 46.59%.

Insider Buying and Selling

In related news, Director Dennis Suskind sold 748 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $300.00, for a total value of $224,400.00. Following the sale, the director owned 2,699 shares of the company’s stock, valued at $809,700. The trade was a 21.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William R. Shepard purchased 251 shares of the stock in a transaction on Tuesday, December 30th. The stock was bought at an average price of $278.37 per share, for a total transaction of $69,870.87. Following the completion of the transaction, the director directly owned 258,710 shares of the company’s stock, valued at approximately $72,017,102.70. This trade represents a 0.10% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 5,248 shares of company stock worth $1,616,700 in the last quarter. Corporate insiders own 0.30% of the company’s stock.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.