Edgewood Management LLC boosted its holdings in CME Group Inc (NASDAQ:CME) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,582,518 shares of the financial services provider’s stock after purchasing an additional 742,067 shares during the quarter. CME Group comprises 4.9% of Edgewood Management LLC’s holdings, making the stock its 7th largest holding. Edgewood Management LLC owned 2.53% of CME Group worth $1,460,830,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of CME. Meeder Asset Management Inc. increased its holdings in shares of CME Group by 84.8% during the second quarter. Meeder Asset Management Inc. now owns 789 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 362 shares in the last quarter. Kaizen Advisory LLC increased its holdings in shares of CME Group by 151.9% during the second quarter. Kaizen Advisory LLC now owns 816 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 492 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of CME Group during the third quarter valued at approximately $134,000. Sun Life Financial INC increased its holdings in shares of CME Group by 267.7% during the second quarter. Sun Life Financial INC now owns 923 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 672 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in shares of CME Group during the second quarter valued at approximately $153,000. Institutional investors and hedge funds own 84.55% of the company’s stock.
Shares of NASDAQ:CME opened at $189.31 on Monday. The company has a market cap of $64.34 billion, a P/E ratio of 39.69, a P/E/G ratio of 2.20 and a beta of 0.49. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.09. CME Group Inc has a 12-month low of $141.64 and a 12-month high of $197.08.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Monday, December 10th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.80 annualized dividend and a dividend yield of 1.48%. CME Group’s payout ratio is 58.70%.
In other CME Group news, Director Charles P. Carey sold 2,800 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $183.45, for a total value of $513,660.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin J. Gepsman sold 300 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $172.30, for a total value of $51,690.00. Following the completion of the transaction, the director now directly owns 42,912 shares in the company, valued at approximately $7,393,737.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,419 shares of company stock worth $6,305,732. 0.43% of the stock is owned by insiders.
Several equities research analysts have recently commented on the company. Citigroup assumed coverage on CME Group in a report on Tuesday, November 20th. They set a “buy” rating and a $220.00 price objective for the company. Berenberg Bank upgraded CME Group from a “hold” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Tuesday, November 20th. Deutsche Bank lifted their target price on CME Group from $205.00 to $206.00 and gave the company a “buy” rating in a research report on Friday, November 16th. Bank of America reaffirmed a “buy” rating and set a $200.00 target price on shares of CME Group in a research report on Monday, November 5th. Finally, Wells Fargo & Co lifted their target price on CME Group from $175.00 to $177.00 and gave the company a “market perform” rating in a research report on Friday, October 26th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $190.23.
CME Group Company Profile
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.
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