Nan Shan Life Insurance Co. Ltd. grew its holdings in CME Group Inc (NASDAQ:CME) by 48.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,000 shares of the financial services provider’s stock after purchasing an additional 50,000 shares during the period. Nan Shan Life Insurance Co. Ltd.’s holdings in CME Group were worth $26,455,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CME. Norges Bank purchased a new stake in CME Group in the fourth quarter worth $645,732,000. BlackRock Inc. increased its stake in CME Group by 4.6% in the first quarter. BlackRock Inc. now owns 26,645,530 shares of the financial services provider’s stock worth $4,607,281,000 after purchasing an additional 1,179,970 shares during the period. FMR LLC increased its stake in CME Group by 14.7% in the fourth quarter. FMR LLC now owns 7,774,032 shares of the financial services provider’s stock worth $1,560,404,000 after purchasing an additional 996,023 shares during the period. Parnassus Investments CA increased its stake in CME Group by 25.0% in the fourth quarter. Parnassus Investments CA now owns 3,556,924 shares of the financial services provider’s stock worth $713,946,000 after purchasing an additional 711,558 shares during the period. Finally, Renaissance Technologies LLC increased its stake in CME Group by 31.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,134,418 shares of the financial services provider’s stock worth $428,420,000 after purchasing an additional 512,199 shares during the period. Institutional investors and hedge funds own 85.08% of the company’s stock.
CME stock traded down $0.42 during trading on Friday, reaching $177.76. 60,456 shares of the company traded hands, compared to its average volume of 1,722,147. CME Group Inc has a 12 month low of $131.80 and a 12 month high of $225.36. The business has a 50 day simple moving average of $181.02 and a 200 day simple moving average of $196.37. The company has a market capitalization of $64.84 billion, a price-to-earnings ratio of 26.75, a price-to-earnings-growth ratio of 4.34 and a beta of 0.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.01 and a current ratio of 1.01.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 1.91%. The ex-dividend date is Tuesday, June 9th. CME Group’s dividend payout ratio is presently 50.00%.
A number of research firms have weighed in on CME. Credit Suisse Group reiterated a “hold” rating and issued a $190.00 target price on shares of CME Group in a research note on Tuesday, April 28th. Bank of America cut their price target on CME Group from $216.00 to $168.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Wells Fargo & Co raised their price target on CME Group from $180.00 to $186.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Zacks Investment Research upgraded CME Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research note on Monday, April 6th. Finally, Oppenheimer restated a “buy” rating and set a $216.00 price target on shares of CME Group in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. CME Group has an average rating of “Hold” and an average price target of $193.67.
In other CME Group news, COO Julie Holzrichter sold 3,061 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $203.37, for a total value of $622,515.57. Following the completion of the sale, the chief operating officer now owns 37,284 shares of the company’s stock, valued at $7,582,447.08. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Julie Winkler sold 5,620 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $210.97, for a total value of $1,185,651.40. Following the completion of the sale, the insider now directly owns 25,114 shares of the company’s stock, valued at approximately $5,298,300.58. The disclosure for this sale can be found here. In the last three months, insiders sold 11,692 shares of company stock valued at $2,350,147. Corporate insiders own 1.20% of the company’s stock.
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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