Bank of Nova Scotia decreased its position in CME Group Inc. (NASDAQ:CME) by 50.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,931 shares of the financial services provider’s stock after selling 185,915 shares during the period. Bank of Nova Scotia owned approximately 0.05% of CME Group worth $22,534,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in CME. Jupiter Asset Management Ltd. bought a new position in CME Group in the 1st quarter worth about $5,845,000. Cipher Capital LP bought a new position in CME Group in the 1st quarter worth about $301,000. Victory Capital Management Inc. boosted its stake in CME Group by 15.6% in the 1st quarter. Victory Capital Management Inc. now owns 70,966 shares of the financial services provider’s stock worth $8,430,000 after purchasing an additional 9,602 shares in the last quarter. Schroder Investment Management Group boosted its stake in CME Group by 26.6% in the 1st quarter. Schroder Investment Management Group now owns 190,655 shares of the financial services provider’s stock worth $22,659,000 after purchasing an additional 40,064 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in CME Group by 52.0% in the 1st quarter. Cibc World Markets Corp now owns 35,456 shares of the financial services provider’s stock worth $4,212,000 after purchasing an additional 12,134 shares in the last quarter. Institutional investors own 82.64% of the company’s stock.
Several equities analysts have issued reports on CME shares. Barclays PLC upped their target price on shares of CME Group from $139.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. Wells Fargo & Company upped their target price on shares of CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a research note on Wednesday, October 4th. BidaskClub upgraded shares of CME Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 27th. Keefe, Bruyette & Woods restated a “hold” rating and set a $133.00 target price on shares of CME Group in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada upped their target price on shares of CME Group from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $135.89.
CME Group Inc. (NASDAQ CME) traded down 0.15% during midday trading on Wednesday, hitting $137.02. 118,415 shares of the stock traded hands. The company has a 50-day moving average of $131.34 and a 200-day moving average of $123.53. The stock has a market cap of $46.57 billion, a PE ratio of 33.75 and a beta of 0.73. CME Group Inc. has a 12 month low of $98.95 and a 12 month high of $138.49.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.03. The company had revenue of $925.00 million during the quarter, compared to analysts’ expectations of $931.05 million. CME Group had a return on equity of 7.61% and a net margin of 46.05%. CME Group’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.14 earnings per share. On average, equities research analysts anticipate that CME Group Inc. will post $4.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 25th. Investors of record on Friday, September 8th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend was Thursday, September 7th. CME Group’s dividend payout ratio is currently 53.99%.
In related news, Chairman Terrence A. Duffy sold 21,815 shares of CME Group stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $123.89, for a total transaction of $2,702,660.35. Following the completion of the transaction, the chairman now directly owns 110,711 shares in the company, valued at $13,715,985.79. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Julie Holzrichter sold 11,915 shares of CME Group stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $125.67, for a total value of $1,497,358.05. Following the transaction, the chief operating officer now owns 43,657 shares of the company’s stock, valued at $5,486,375.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,094 shares of company stock valued at $5,896,940. 0.57% of the stock is owned by company insiders.
CME Group 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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