Tocqueville Asset Management L.P. Reduces Stake in CME Group Inc (CME)

Tocqueville Asset Management L.P. lowered its stake in shares of CME Group Inc (NASDAQ:CME) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,037 shares of the financial services provider’s stock after selling 3,955 shares during the period. Tocqueville Asset Management L.P.’s holdings in CME Group were worth $7,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CME. First Citizens Bank & Trust Co. raised its holdings in shares of CME Group by 1.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 20,939 shares of the financial services provider’s stock worth $3,564,000 after acquiring an additional 295 shares during the last quarter. Utah Retirement Systems raised its holdings in shares of CME Group by 0.5% in the 3rd quarter. Utah Retirement Systems now owns 63,200 shares of the financial services provider’s stock worth $10,757,000 after acquiring an additional 300 shares during the last quarter. Oak Ridge Investments LLC raised its holdings in shares of CME Group by 6.2% in the 2nd quarter. Oak Ridge Investments LLC now owns 5,247 shares of the financial services provider’s stock worth $860,000 after acquiring an additional 306 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of CME Group by 17.8% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 2,120 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 321 shares during the last quarter. Finally, Girard Partners LTD. raised its holdings in shares of CME Group by 10.3% in the 2nd quarter. Girard Partners LTD. now owns 3,492 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 326 shares during the last quarter. Hedge funds and other institutional investors own 85.89% of the company’s stock.

In other CME Group news, Chairman Terrence A. Duffy sold 10,000 shares of the stock in a transaction dated Friday, November 23rd. The shares were sold at an average price of $188.80, for a total value of $1,888,000.00. Following the completion of the sale, the chairman now owns 95,652 shares in the company, valued at approximately $18,059,097.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Martin J. Gepsman sold 300 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $172.30, for a total transaction of $51,690.00. Following the completion of the sale, 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.

CME has been the topic of a number of analyst reports. BidaskClub upgraded shares of CME Group from a “hold” rating to a “buy” rating in a report on Saturday, August 18th. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 22nd. Jefferies Financial Group restated a “buy” rating and issued a $190.00 target price on shares of CME Group in a report on Wednesday, September 5th. Rosenblatt Securities initiated coverage on shares of CME Group in a report on Wednesday, September 5th. They issued a “neutral” rating and a $177.00 target price on the stock. Finally, Berenberg Bank set a $184.00 target price on shares of CME Group and gave the stock a “hold” rating in a report on Thursday, September 20th. Six equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. CME Group has an average rating of “Buy” and a consensus target price of $194.13.

NASDAQ:CME opened at $187.11 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $64.24 billion, a price-to-earnings ratio of 39.23, a PEG ratio of 2.19 and a beta of 0.46. CME Group Inc has a 52 week low of $143.68 and a 52 week high of $197.08.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.03. The firm had revenue of $904.20 million during the quarter, compared to analyst estimates of $910.50 million. CME Group had a net margin of 113.67% and a return on equity of 9.18%. Equities analysts forecast that CME Group Inc will post 6.66 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Shareholders of record on Monday, December 10th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.80 annualized dividend and a yield of 1.50%. CME Group’s dividend payout ratio (DPR) is 58.70%.

TRADEMARK VIOLATION WARNING: “Tocqueville Asset Management L.P. Reduces Stake in CME Group Inc (CME)” was originally published by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another publication, it was illegally copied and republished in violation of US and international copyright and trademark law. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/12/08/tocqueville-asset-management-l-p-reduces-stake-in-cme-group-inc-cme.html.

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 products, and metals.

Featured Story: What are the risks of holding treasury bonds?

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

Receive News & Ratings for CME Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CME Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply