Synovus Financial Corp boosted its position in CME Group (NASDAQ:CME) by 7.9% during the 1st quarter, HoldingsChannel reports. The fund owned 14,701 shares of the financial services provider’s stock after buying an additional 1,080 shares during the period. Synovus Financial Corp’s holdings in CME Group were worth $2,378,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. ARK Investment Management LLC bought a new position in CME Group in the fourth quarter worth approximately $120,000. AlphaOne Investment Services LLC bought a new position in CME Group in the fourth quarter worth approximately $146,000. Mosaic Family Wealth LLC bought a new position in CME Group in the fourth quarter worth approximately $146,000. Truewealth LLC bought a new position in CME Group in the fourth quarter worth approximately $157,000. Finally, Captrust Financial Advisors bought a new position in CME Group in the fourth quarter worth approximately $186,000. Institutional investors and hedge funds own 83.10% of the company’s stock.
Shares of CME opened at $159.29 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $54.07 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.23 and a beta of 0.57. CME Group has a 12 month low of $114.88 and a 12 month high of $171.71.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 25th. Investors of record on Friday, June 8th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, June 7th. CME Group’s payout ratio is 58.70%.
In other CME Group news, CFO John W. Pietrowicz sold 2,500 shares of the firm’s stock in a transaction on Tuesday, April 10th. The stock was sold at an average price of $161.02, for a total value of $402,550.00. Following the completion of the sale, the chief financial officer now directly owns 34,957 shares of the company’s stock, valued at $5,628,776.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Hilda Harris Piell sold 3,299 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $163.52, for a total value of $539,452.48. The disclosure for this sale can be found here. Insiders have sold 5,999 shares of company stock valued at $973,984 over the last ninety days. 0.45% of the stock is currently owned by company insiders.
Several brokerages have recently commented on CME. ValuEngine downgraded CME Group from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Zacks Investment Research downgraded CME Group from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Bank of America increased 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. BidaskClub downgraded CME Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 15th. Finally, Barclays increased 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $165.57.
CME Group Profile
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 products, and metals.
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