Stillwater Investment Management LLC purchased a new position in CME Group Inc (NASDAQ:CME) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,334 shares of the financial services provider’s stock, valued at approximately $2,725,000. CME Group accounts for about 1.7% of Stillwater Investment Management LLC’s investment portfolio, making the stock its 27th largest position.
A number of other hedge funds have also recently modified their holdings of CME. Federated Investors Inc. PA grew its stake in CME Group by 28.1% in the second quarter. Federated Investors Inc. PA now owns 7,456 shares of the financial services provider’s stock worth $934,000 after purchasing an additional 1,636 shares during the period. Victory Capital Management Inc. boosted its holdings in CME Group by 13.5% in the second quarter. Victory Capital Management Inc. now owns 80,567 shares of the financial services provider’s stock worth $10,090,000 after acquiring an additional 9,601 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in CME Group by 10.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 7,466 shares of the financial services provider’s stock worth $935,000 after acquiring an additional 682 shares in the last quarter. Meiji Yasuda Life Insurance Co bought a new stake in CME Group in the second quarter worth $288,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in CME Group by 11.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 14,116 shares of the financial services provider’s stock worth $1,768,000 after acquiring an additional 1,420 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors.
In other CME Group news, insider Sunil Cutinho sold 2,600 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $139.57, for a total value of $362,882.00. Following the transaction, the insider now owns 22,301 shares of the company’s stock, valued at $3,112,550.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO John W. Pietrowicz sold 2,500 shares of the stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $136.83, for a total value of $342,075.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,603 shares of company stock worth $5,456,551. Corporate insiders own 0.57% of the company’s stock.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.03. The firm had revenue of $890.80 million for the quarter, compared to the consensus estimate of $890.22 million. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. sell-side analysts expect that CME Group Inc will post 4.77 EPS for the current year.
The firm also recently declared a dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, December 28th will be issued a dividend of $3.50 per share. This is an increase from CME Group’s previous dividend of $3.25. The ex-dividend date is Wednesday, December 27th. CME Group’s dividend payout ratio is presently 59.86%.
Several equities research analysts have commented on CME shares. Wells Fargo & Co boosted their target price on CME Group from $130.00 to $145.00 and gave the stock a “market perform” rating in a report on Wednesday, October 4th. Royal Bank of Canada boosted their target price on CME Group from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Monday, October 16th. BidaskClub downgraded CME Group from a “buy” rating to a “hold” rating in a report on Tuesday, December 19th. Barclays started coverage on CME Group in a report on Friday, September 8th. They issued an “overweight” rating and a $139.00 target price on the stock. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $133.00 target price on shares of CME Group in a report on Thursday, September 21st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $144.22.
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About CME Group
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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