Eagle Ridge Investment Management grew its position in CME Group Inc (NASDAQ:CME) by 11.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,641 shares of the financial services provider’s stock after acquiring an additional 5,984 shares during the quarter. CME Group makes up approximately 1.6% of Eagle Ridge Investment Management’s holdings, making the stock its 20th largest position. Eagle Ridge Investment Management’s holdings in CME Group were worth $11,189,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Independent Advisor Alliance increased its holdings in shares of CME Group by 5.9% in the 1st quarter. Independent Advisor Alliance now owns 1,947 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 108 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its position in CME Group by 4.1% during the 1st quarter. Jackson Hole Capital Partners LLC now owns 1,986 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 79 shares during the period. KC Investment Advisors LLC boosted its position in CME Group by 9.0% during the 1st quarter. KC Investment Advisors LLC now owns 2,898 shares of the financial services provider’s stock valued at $477,000 after purchasing an additional 240 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its position in CME Group by 609.0% during the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 122,785 shares of the financial services provider’s stock valued at $20,208,000 after purchasing an additional 105,468 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in CME Group during the 2nd quarter valued at approximately $571,000. Institutional investors and hedge funds own 84.44% of the company’s stock.
In other CME Group news, insider Kathleen M. Cronin sold 4,960 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $186.69, for a total transaction of $925,982.40. Following the completion of the transaction, the insider now owns 49,337 shares in the company, valued at approximately $9,210,724.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Suskind sold 1,500 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $212.46, for a total value of $318,690.00. Following the transaction, the director now owns 4,853 shares of the company’s stock, valued at approximately $1,031,068.38. The disclosure for this sale can be found here. Insiders have sold a total of 82,363 shares of company stock valued at $16,429,225 in the last quarter. 1.20% of the stock is currently owned by insiders.
CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.01. CME Group had a return on equity of 9.14% and a net margin of 39.36%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. On average, analysts anticipate that CME Group Inc will post 6.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.75 per share. The ex-dividend date is Monday, September 9th. This represents a $3.00 dividend on an annualized basis and a yield of 1.41%. CME Group’s dividend payout ratio (DPR) is presently 43.99%.
A number of research analysts recently issued reports on CME shares. Citigroup set a $202.00 price objective on CME Group and gave the company a “buy” rating in a research report on Thursday, May 2nd. BidaskClub upgraded CME Group from a “hold” rating to a “buy” rating in a research report on Friday, August 9th. Barclays boosted their price objective on CME Group from $191.00 to $197.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Wells Fargo & Co boosted their price objective on CME Group from $176.00 to $200.00 and gave the company a “market perform” rating in a research report on Wednesday, July 3rd. Finally, Deutsche Bank boosted their price objective on CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. CME Group currently has an average rating of “Hold” and an average target price of $194.00.
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 commodities, and metals, as well as fixed income products.
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