Tower Research Capital LLC TRC lowered its holdings in shares of CME Group Inc (NASDAQ:CME) by 65.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,555 shares of the financial services provider’s stock after selling 8,487 shares during the quarter. Tower Research Capital LLC TRC’s holdings in CME Group were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in CME. Cornerstone Wealth Management LLC bought a new stake in CME Group during the 2nd quarter valued at approximately $153,000. Dupont Capital Management Corp raised its stake in CME Group by 30.5% during the 2nd quarter. Dupont Capital Management Corp now owns 3,326 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 777 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in CME Group by 8,495.7% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,977 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 1,954 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in CME Group during the 2nd quarter valued at approximately $7,426,000. Finally, First Trust Advisors LP raised its stake in CME Group by 140.9% during the 2nd quarter. First Trust Advisors LP now owns 278,048 shares of the financial services provider’s stock valued at $45,578,000 after purchasing an additional 162,604 shares during the period. Institutional investors and hedge funds own 85.89% of the company’s stock.
Several analysts recently issued reports on CME shares. Jefferies Financial Group reissued a “buy” rating and set a $190.00 target price on shares of CME Group in a research note on Wednesday, September 5th. UBS Group cut CME Group from a “buy” rating to a “neutral” rating and raised their price target for the company from $185.00 to $204.00 in a report on Wednesday, November 28th. Zacks Investment Research cut CME Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Deutsche Bank restated a “buy” rating and set a $192.00 price target (up previously from $185.00) on shares of CME Group in a report on Thursday, October 11th. Finally, Bank of America restated a “buy” rating and set a $200.00 price target on shares of CME Group in a report on Monday, November 5th. Six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $194.13.
CME Group (NASDAQ:CME) last announced its earnings results on Thursday, October 25th. The financial services provider reported $1.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.03. The firm had revenue of $904.20 million during the quarter, compared to analysts’ expectations of $910.50 million. CME Group had a return on equity of 9.18% and a net margin of 113.67%. As a group, research analysts forecast that CME Group Inc will post 6.65 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Monday, December 10th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, December 7th. CME Group’s dividend payout ratio (DPR) is 58.70%.
In other news, Chairman Terrence A. Duffy sold 10,000 shares of CME Group stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $188.80, for a total value of $1,888,000.00. Following the completion of the transaction, the chairman now owns 95,652 shares in the company, valued at approximately $18,059,097.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Martin J. Gepsman sold 300 shares of CME Group stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $172.30, for a total value of $51,690.00. Following the completion of the transaction, the director now owns 42,912 shares of the company’s stock, valued at approximately $7,393,737.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,800 shares of company stock valued at $5,628,462. Company insiders own 0.43% of the company’s stock.
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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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