Kingsview Wealth Management LLC Makes New Investment in CME Group Inc. $CME

Kingsview Wealth Management LLC purchased a new stake in shares of CME Group Inc. (NASDAQ:CME) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 11,117 shares of the financial services provider’s stock, valued at approximately $2,455,000.

A number of other institutional investors also recently modified their holdings of the company. Beacon Pointe Advisors LLC acquired a new stake in shares of CME Group in the second quarter worth $2,881,000. Kimelman & Baird LLC acquired a new position in CME Group in the 2nd quarter valued at $71,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in CME Group in the 2nd quarter valued at $498,000. Rakuten Investment Management Inc. bought a new position in CME Group in the 2nd quarter worth $12,960,000. Finally, RB Capital Management LLC acquired a new position in CME Group during the 2nd quarter worth $597,000. Institutional investors own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CME shares. TD Cowen lowered their price target on CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a research report on Monday, June 22nd. Bank of America boosted their price objective on CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a research report on Thursday, July 23rd. Erste Group Bank downgraded CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Wall Street Zen raised CME Group from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Barclays lowered their target price on CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $288.56.

CME Group Stock Up 1.7%

NASDAQ CME opened at $285.80 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50-day simple moving average of $253.80 and a 200 day simple moving average of $279.13. CME Group Inc. has a twelve month low of $218.31 and a twelve month high of $329.16. The stock has a market cap of $102.77 billion, a PE ratio of 24.24, a PEG ratio of 3.40 and a beta of 0.23.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $2.96 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts forecast that CME Group Inc. will post 12.27 EPS for the current year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s dividend payout ratio (DPR) is presently 44.11%.

Insider Activity

In other news, Director William R. Shepard acquired 325 shares of the stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the transaction, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.

About CME Group

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.