Canada Pension Plan Investment Board Trims Stock Position in CME Group Inc (NASDAQ:CME)

Christel Deskins

Canada Pension Plan Investment Board lowered its stake in shares of CME Group Inc (NASDAQ:CME) by 5.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 172,086 shares of the financial services provider’s stock after selling 9,049 shares during the period. Canada […]

Canada Pension Plan Investment Board lowered its stake in shares of CME Group Inc (NASDAQ:CME) by 5.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 172,086 shares of the financial services provider’s stock after selling 9,049 shares during the period. Canada Pension Plan Investment Board’s holdings in CME Group were worth $27,971,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in shares of CME Group by 6,150.5% in the 1st quarter. Wellington Management Group LLP now owns 2,126,309 shares of the financial services provider’s stock valued at $367,659,000 after purchasing an additional 2,092,291 shares in the last quarter. Viking Global Investors LP acquired a new position in CME Group in the first quarter valued at approximately $294,288,000. GUARDCAP ASSET MANAGEMENT Ltd increased its stake in CME Group by 67.7% in the second quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 1,586,970 shares of the financial services provider’s stock valued at $257,946,000 after purchasing an additional 640,859 shares during the last quarter. BlackRock Inc. increased its stake in CME Group by 2.4% in the second quarter. BlackRock Inc. now owns 27,282,937 shares of the financial services provider’s stock valued at $4,434,567,000 after purchasing an additional 637,407 shares during the last quarter. Finally, California Public Employees Retirement System raised its holdings in CME Group by 28.9% during the first quarter. California Public Employees Retirement System now owns 2,568,944 shares of the financial services provider’s stock worth $444,196,000 after purchasing an additional 576,402 shares in the last quarter. 84.24% of the stock is owned by institutional investors and hedge funds.

CME stock opened at $163.21 on Friday. CME Group Inc has a 52 week low of $131.80 and a 52 week high of $225.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market cap of $58.65 billion, a P/E ratio of 22.21, a P/E/G ratio of 5.40 and a beta of 0.30. The company’s 50-day moving average price is $169.95 and its 200 day moving average price is $177.80.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.01. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. CME Group had a return on equity of 9.93% and a net margin of 46.39%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.76 EPS. On average, equities research analysts expect that CME Group Inc will post 7.03 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Thursday, September 10th will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s dividend payout ratio is currently 50.00%.

In other CME Group news, Director Martin J. Gepsman sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $173.52, for a total value of $867,600.00. Also, Director Charles P. Carey sold 8,000 shares of CME Group stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $165.39, for a total transaction of $1,323,120.00. Insiders have sold a total of 15,900 shares of company stock valued at $2,695,838 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Several research analysts have recently issued reports on the stock. Credit Suisse Group increased their target price on shares of CME Group from $170.00 to $177.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America dropped their price objective on CME Group from $194.00 to $180.00 and set a “neutral” rating on the stock in a report on Friday, July 10th. Goldman Sachs Group cut their target price on CME Group from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, June 22nd. Deutsche Bank decreased their target price on CME Group from $196.00 to $178.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Finally, Rosenblatt Securities dropped their price target on CME Group from $140.00 to $130.00 and set a “sell” rating on the stock in a research note on Thursday, July 30th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. CME Group currently has an average rating of “Hold” and an average target price of $187.50.

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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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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