Philadelphia Financial Management of San Francisco LLC lessened its position in shares of CME Group Inc (NASDAQ:CME) by 12.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,372 shares of the financial services provider’s stock after selling 7,092 shares during the quarter. Philadelphia Financial Management of San Francisco LLC’s holdings in CME Group were worth $7,503,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of CME. ARK Investment Management LLC acquired a new position in shares of CME Group during the fourth quarter valued at $120,000. Valeo Financial Advisors LLC bought a new stake in CME Group in the third quarter valued at about $124,000. AlphaOne Investment Services LLC bought a new stake in CME Group in the fourth quarter valued at about $146,000. Mosaic Family Wealth LLC bought a new stake in CME Group in the fourth quarter valued at about $146,000. Finally, Truewealth LLC bought a new stake in CME Group in the fourth quarter valued at about $157,000. 83.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of CME Group Inc (NASDAQ:CME) traded up $0.08 during trading on Wednesday, hitting $164.89. The company’s stock had a trading volume of 204,760 shares, compared to its average volume of 1,618,972. CME Group Inc has a 12 month low of $114.82 and a 12 month high of $171.71. The company has a market capitalization of $57,586.33, a P/E ratio of 13.80, a P/E/G ratio of 2.49 and a beta of 0.54. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.10.
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Friday, March 9th will be issued a $0.70 dividend. This is an increase from CME Group’s previous quarterly dividend of $0.66. This represents a $2.80 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Thursday, March 8th. CME Group’s dividend payout ratio is 23.45%.
A number of research firms recently commented on CME. Bank of America upped their price objective on CME Group from $175.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 8th. ValuEngine downgraded CME Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 7th. Zacks Investment Research downgraded CME Group from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. BidaskClub upgraded CME Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 10th. Finally, Goldman Sachs Group upgraded CME Group from a “neutral” rating to a “buy” rating and set a $180.00 price objective for the company in a report on Wednesday, February 7th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. CME Group currently has a consensus rating of “Buy” and an average target price of $157.77.
In other CME Group news, insider Derek Sammann sold 2,400 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $161.66, for a total value of $387,984.00. Following the completion of the sale, the insider now directly owns 40,153 shares in the company, valued at $6,491,133.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hilda Harris Piell sold 3,299 shares of the stock in a transaction dated 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 sold 43,024 shares of company stock valued at $6,620,113 over the last 90 days. Corporate insiders own 0.57% of the company’s stock.
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About CME Group
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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