New York Life Investment Management LLC Buys 660 Shares of CME Group Inc. $CME

New York Life Investment Management LLC increased its stake in CME Group Inc. (NASDAQ:CME) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,924 shares of the financial services provider’s stock after purchasing an additional 660 shares during the quarter. New York Life Investment Management LLC’s holdings in CME Group were worth $14,863,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CME. Wayfinding Financial LLC bought a new stake in shares of CME Group in the first quarter valued at $25,000. Webster Bank N. A. raised its stake in CME Group by 206.9% in the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 60 shares during the period. Cornerstone Planning Group LLC raised its stake in CME Group by 122.2% in the 1st 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. Highline Wealth Partners LLC raised its stake in CME Group by 84.3% in the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 43 shares during the period. Finally, Golden State Wealth Management LLC raised its stake in CME Group by 612.5% in the 1st 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. Institutional investors own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

CME has been the topic of several research reports. Raymond James Financial lowered their price target on shares of CME Group from $309.00 to $307.00 and set an “outperform” rating on the stock in a research report on Monday, October 13th. Jefferies Financial Group lowered their target price on shares of CME Group from $313.00 to $304.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Barclays lowered their target price on shares of CME Group from $298.00 to $280.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 8th. UBS Group lowered their target price on shares of CME Group from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CME Group in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, CME Group presently has a consensus rating of “Hold” and an average price target of $284.53.

Insiders Place Their Bets

In related news, insider Timothy Francis Mccourt sold 379 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the transaction, the insider directly owned 9,508 shares in the company, valued at approximately $2,470,463.64. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jonathan L. Marcus sold 392 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the transaction, the general counsel owned 7,851 shares in the company, valued at approximately $2,056,962. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,043 shares of company stock valued at $3,527,956 over the last 90 days. 0.30% of the stock is owned by insiders.

CME Group Stock Down 1.8%

Shares of NASDAQ:CME opened at $266.33 on Wednesday. The firm has a fifty day moving average price of $266.38 and a two-hundred day moving average price of $272.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The company has a market cap of $95.98 billion, a price-to-earnings ratio of 25.81, a PEG ratio of 4.58 and a beta of 0.41.

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

CME Group Dividend Announcement

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

About CME Group

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.