Riverpark Capital Management LLC trimmed its holdings in CME Group Inc (NASDAQ:CME) by 14.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 153,557 shares of the financial services provider’s stock after selling 26,691 shares during the quarter. CME Group makes up approximately 3.2% of Riverpark Capital Management LLC’s holdings, making the stock its 12th biggest position. Riverpark Capital Management LLC’s holdings in CME Group were worth $22,427,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Capital International Investors boosted its stake in CME Group by 11.4% in the 3rd quarter. Capital International Investors now owns 12,489,045 shares of the financial services provider’s stock worth $1,694,514,000 after purchasing an additional 1,279,058 shares during the period. Thornburg Investment Management Inc. boosted its position in shares of CME Group by 5.4% during the 3rd quarter. Thornburg Investment Management Inc. now owns 3,902,886 shares of the financial services provider’s stock valued at $529,544,000 after acquiring an additional 200,483 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of CME Group by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 3,695,039 shares of the financial services provider’s stock valued at $538,556,000 after acquiring an additional 189,971 shares during the last quarter. Jackson Square Partners LLC boosted its position in shares of CME Group by 672.4% during the 4th quarter. Jackson Square Partners LLC now owns 2,773,705 shares of the financial services provider’s stock valued at $405,099,000 after acquiring an additional 2,414,593 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of CME Group by 53.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,201,333 shares of the financial services provider’s stock valued at $321,505,000 after acquiring an additional 764,129 shares during the last quarter. Institutional investors and hedge funds own 83.13% of the company’s stock.
A number of research analysts have recently commented on CME shares. BidaskClub upgraded CME Group from a “hold” rating to a “buy” rating in a research report on Wednesday, December 6th. Zacks Investment Research upgraded CME Group from a “hold” rating to a “buy” rating and set a $164.00 target price for the company in a research report on Tuesday, January 2nd. Berenberg Bank assumed coverage on CME Group in a research report on Thursday, January 25th. They set a “hold” rating and a $170.00 target price for the company. Citigroup restated a “buy” rating and issued a $172.00 price target (up from $155.00) on shares of CME Group in a research report on Monday, January 29th. Finally, Sandler O’Neill restated a “buy” rating and issued a $175.00 price target on shares of CME Group in a research report on Friday, February 2nd. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $157.77.
CME Group (NASDAQ:CME) last released its earnings results on Thursday, February 1st. The financial services provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. CME Group had a return on equity of 7.68% and a net margin of 111.49%. The business had revenue of $900.00 million for the quarter, compared to analyst estimates of $886.85 million. During the same quarter last year, the firm posted $1.14 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. analysts anticipate that CME Group Inc will post 6.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be paid a $0.70 dividend. This is a positive change from CME Group’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.80 dividend on an annualized basis and a yield of 1.63%. CME Group’s dividend payout ratio (DPR) is presently 23.45%.
In other CME Group news, insider Jack J. Tobin sold 2,325 shares of the stock in a transaction on Monday, December 18th. The stock was sold at an average price of $152.28, for a total value of $354,051.00. Following the sale, the insider now owns 17,574 shares in the company, valued at $2,676,168.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Hilda Harris Piell sold 3,299 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were 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. In the last quarter, insiders sold 43,024 shares of company stock worth $6,620,113. Insiders own 0.57% of the company’s stock.
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CME Group Company 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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