LGT Fund Management Co Ltd. Acquires 21,066 Shares of CME Group Inc. (NASDAQ:CME)

LGT Fund Management Co Ltd. grew its holdings in shares of CME Group Inc. (NASDAQ:CMEFree Report) by 403.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,288 shares of the financial services provider’s stock after purchasing an additional 21,066 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in CME Group were worth $6,974,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wayfinding Financial LLC bought a new position in shares of CME Group in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its position in shares of CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Golden State Wealth Management LLC boosted its position in shares of CME Group by 612.5% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 98 shares during the period. Alpine Bank Wealth Management bought a new position in shares of CME Group in the first quarter valued at approximately $32,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of CME Group in the first quarter valued at approximately $32,000. Institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the topic of a number of recent analyst reports. Piper Sandler raised their target price on shares of CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Citigroup raised their target price on shares of CME Group from $265.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Oppenheimer raised their target price on shares of CME Group from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Erste Group Bank downgraded shares of CME Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $305.00 target price on shares of CME Group in a research note on Thursday, July 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $261.93.

Get Our Latest Report on CME

Insider Transactions at CME Group

In other news, Director Phyllis M. Lockett sold 1,060 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $277.88, for a total value of $294,552.80. Following the transaction, the director owned 3,108 shares in the company, valued at approximately $863,651.04. This trade represents a 25.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Jonathan L. Marcus sold 390 shares of CME Group stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total transaction of $108,225.00. Following the completion of the sale, the general counsel owned 6,708 shares in the company, valued at approximately $1,861,470. This trade represents a 5.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,750 shares of company stock valued at $1,576,294. 0.30% of the stock is currently owned by insiders.

CME Group Stock Up 1.3%

Shares of CME Group stock opened at $285.75 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a 52-week low of $204.16 and a 52-week high of $290.79. The stock has a market capitalization of $102.98 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 5.01 and a beta of 0.44. The company’s 50 day moving average price is $275.74 and its 200-day moving average price is $266.48.

CME Group (NASDAQ:CMEGet Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $2.56 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. Equities research analysts forecast that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.7%. CME Group’s dividend payout ratio is 48.40%.

About CME Group

(Free Report)

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.

See Also

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

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