Fred Alger Management Inc. reduced its stake in CME Group Inc (NASDAQ:CME) by 7.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,680 shares of the financial services provider’s stock after selling 1,878 shares during the period. Fred Alger Management Inc.’s holdings in CME Group were worth $3,312,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. lifted its stake in shares of CME Group by 134.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 190,829 shares of the financial services provider’s stock worth $27,870,000 after acquiring an additional 109,432 shares during the period. AMP Capital Investors Ltd lifted its stake in shares of CME Group by 0.8% in the fourth quarter. AMP Capital Investors Ltd now owns 234,910 shares of the financial services provider’s stock worth $34,310,000 after acquiring an additional 1,935 shares during the period. VGI PARTNERS PTY Ltd lifted its stake in shares of CME Group by 16.5% in the fourth quarter. VGI PARTNERS PTY Ltd now owns 998,327 shares of the financial services provider’s stock worth $145,806,000 after acquiring an additional 141,272 shares during the period. Profund Advisors LLC lifted its stake in shares of CME Group by 30.2% in the fourth quarter. Profund Advisors LLC now owns 11,034 shares of the financial services provider’s stock worth $1,612,000 after acquiring an additional 2,557 shares during the period. Finally, Mosaic Family Wealth LLC acquired a new position in shares of CME Group in the fourth quarter worth approximately $146,000. 83.13% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on the company. ValuEngine lowered CME Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Bank of America lifted their price objective on CME Group from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 8th. Zacks Investment Research lowered CME Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Barclays lifted their price objective on CME Group from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Berenberg Bank assumed coverage on CME Group in a research note on Thursday, January 25th. They issued a “hold” rating and a $170.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $157.77.
CME Group Inc (NASDAQ CME) opened at $169.18 on Tuesday. CME Group Inc has a 12 month low of $114.82 and a 12 month high of $171.71. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $58,348.80, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 2.52 and a beta of 0.54.
CME Group (NASDAQ:CME) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. CME Group had a return on equity of 7.68% and a net margin of 111.49%. The firm had revenue of $900.00 million for the quarter, compared to analyst estimates of $886.85 million. During the same period in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. equities research analysts anticipate that CME Group Inc will post 6.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be paid a $0.70 dividend. The ex-dividend date is Thursday, March 8th. This is a positive change from CME Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a yield of 1.66%. CME Group’s payout ratio is 23.45%.
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CME Group Company Profile
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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