Manitou Investment Management Ltd. decreased its holdings in shares of CME Group Inc (NASDAQ:CME) by 3.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 52,224 shares of the financial services provider’s stock after selling 1,788 shares during the quarter. CME Group makes up about 2.7% of Manitou Investment Management Ltd.’s holdings, making the stock its 17th biggest holding. Manitou Investment Management Ltd.’s holdings in CME Group were worth $11,037,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of CME. Benjamin Edwards Inc. grew its stake in shares of CME Group by 9.5% in the third quarter. Benjamin Edwards Inc. now owns 2,369 shares of the financial services provider’s stock valued at $501,000 after buying an additional 205 shares in the last quarter. Doliver Advisors LP lifted its position in CME Group by 5.5% during the third quarter. Doliver Advisors LP now owns 4,640 shares of the financial services provider’s stock worth $986,000 after buying an additional 240 shares in the last quarter. Arthur M. Cohen & Associates LLC purchased a new position in CME Group during the third quarter worth approximately $219,000. New England Research & Management Inc. lifted its position in CME Group by 174.8% during the third quarter. New England Research & Management Inc. now owns 3,380 shares of the financial services provider’s stock worth $714,000 after buying an additional 2,150 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in CME Group by 120.1% during the third quarter. First Trust Advisors LP now owns 32,604 shares of the financial services provider’s stock worth $6,891,000 after buying an additional 17,789 shares in the last quarter. 84.80% of the stock is owned by institutional investors.
A number of equities analysts recently commented on CME shares. Wells Fargo & Co lifted their price objective on CME Group from $200.00 to $205.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Oppenheimer initiated coverage on CME Group in a research note on Monday, September 16th. They set an “outperform” rating and a $234.00 target price for the company. Deutsche Bank lifted their price objective on CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 9th. ValuEngine cut CME Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Berenberg Bank cut CME Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $236.00 to $227.00 in a research note on Thursday, September 19th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. CME Group presently has an average rating of “Hold” and an average target price of $203.36.
CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. CME Group had a net margin of 40.93% and a return on equity of 9.54%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the firm earned $1.45 earnings per share. CME Group’s revenue for the quarter was up 41.3% compared to the same quarter last year. Analysts forecast that CME Group Inc will post 6.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Tuesday, December 10th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, December 9th. CME Group’s dividend payout ratio is currently 43.99%.
In other CME Group news, Director Daniel R. Glickman sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $216.01, for a total transaction of $108,005.00. Following the completion of the transaction, the director now owns 14,593 shares in the company, valued at approximately $3,152,233.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sean Tully sold 7,200 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $223.13, for a total value of $1,606,536.00. Following the transaction, the insider now owns 19,923 shares of the company’s stock, valued at approximately $4,445,418.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,636 shares of company stock worth $3,001,008. Insiders own 1.20% of the company’s stock.
About CME Group
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.
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