Bank of New York Mellon Corp Reduces Stake in CME Group Inc. $CME

Bank of New York Mellon Corp lowered its holdings in CME Group Inc. (NASDAQ:CME) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,356,835 shares of the financial services provider’s stock after selling 819,272 shares during the period. Bank of New York Mellon Corp owned approximately 1.49% of CME Group worth $1,476,451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of CME Group by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 34,643,827 shares of the financial services provider’s stock valued at $9,190,661,000 after acquiring an additional 400,737 shares in the last quarter. Raymond James Financial Inc. raised its holdings in shares of CME Group by 9.7% in the 1st quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider’s stock valued at $1,091,401,000 after acquiring an additional 363,130 shares in the last quarter. Vontobel Holding Ltd. raised its holdings in shares of CME Group by 3.0% in the 2nd quarter. Vontobel Holding Ltd. now owns 2,920,046 shares of the financial services provider’s stock valued at $804,823,000 after acquiring an additional 84,005 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of CME Group by 29.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider’s stock valued at $747,744,000 after acquiring an additional 648,591 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of CME Group by 10.3% in the 1st quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider’s stock valued at $735,539,000 after acquiring an additional 260,065 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of CME Group stock opened at $265.49 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50 day simple moving average is $265.83 and its two-hundred day simple moving average is $272.17. The stock has a market capitalization of $95.74 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 4.41 and a beta of 0.41. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.05. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.56 billion. CME Group had a return on equity of 14.61% and a net margin of 58.84%.The business’s quarterly revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. Analysts forecast that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, September 9th. CME Group’s dividend payout ratio (DPR) is currently 48.45%.

Insiders Place Their Bets

In other news, insider Sunil Cutinho sold 11,896 shares of CME Group stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total value of $3,229,407.12. Following the sale, the insider directly owned 17,440 shares in the company, valued at approximately $4,734,436.80. This trade represents a 40.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Shepard acquired 262 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was acquired at an average price of $265.19 per share, for a total transaction of $69,479.78. Following the completion of the transaction, the director owned 258,459 shares in the company, valued at approximately $68,540,742.21. The trade was a 0.10% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 13,043 shares of company stock valued at $3,527,956 in the last 90 days. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised CME Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $266.00 to $300.00 in a report on Thursday, October 23rd. Barclays decreased their price objective on CME Group from $298.00 to $280.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen cut CME Group from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Piper Sandler raised their price objective on CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Finally, UBS Group decreased their price objective on CME Group from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $285.19.

CME Group Company Profile

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.