Cullen Frost Bankers Inc. Has $440,000 Position in CME Group Inc. (CME)
Cullen Frost Bankers Inc. decreased its position in CME Group Inc. (NASDAQ:CME) by 24.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,246 shares of the financial services provider’s stock after selling 1,036 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in CME Group were worth $440,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of CME Group by 2.6% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 55,969 shares of the financial services provider’s stock worth $6,649,000 after purchasing an additional 1,400 shares during the period. Piedmont Investment Advisors LLC boosted its holdings in CME Group by 0.9% in the 1st quarter. Piedmont Investment Advisors LLC now owns 71,689 shares of the financial services provider’s stock worth $8,517,000 after acquiring an additional 620 shares during the period. Parsons Capital Management Inc. RI purchased a new position in CME Group in the 1st quarter worth approximately $569,000. Nomura Asset Management Co. Ltd. boosted its holdings in CME Group by 22.6% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 79,831 shares of the financial services provider’s stock worth $9,484,000 after acquiring an additional 14,691 shares during the period. Finally, DnB Asset Management AS boosted its holdings in CME Group by 4.6% in the 2nd quarter. DnB Asset Management AS now owns 38,415 shares of the financial services provider’s stock worth $4,811,000 after acquiring an additional 1,700 shares during the period. 82.81% of the stock is owned by hedge funds and other institutional investors.
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In other news, Director Daniel R. Glickman sold 850 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $126.65, for a total transaction of $107,652.50. Following the transaction, the director now directly owns 13,799 shares of the company’s stock, valued at $1,747,643.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John W. Pietrowicz sold 2,500 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $136.83, for a total value of $342,075.00. The disclosure for this sale can be found here. Insiders sold 11,339 shares of company stock worth $1,548,086 over the last ninety days. 0.57% of the stock is owned by corporate insiders.
A number of research firms have weighed in on CME. BidaskClub upgraded CME Group from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Citigroup Inc. upped their price target on CME Group from $138.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Jefferies Group LLC restated a “buy” rating and issued a $134.00 price target (up previously from $128.00) on shares of CME Group in a report on Monday, July 17th. Barclays PLC began coverage on CME Group in a research note on Friday, September 8th. They set an “overweight” rating and a $139.00 target price for the company. Finally, Wells Fargo & Company increased their target price on CME Group from $130.00 to $145.00 and gave the company a “market perform” rating in a research note on Wednesday, October 4th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. CME Group presently has an average rating of “Hold” and an average target price of $138.89.
Shares of CME Group Inc. (NASDAQ:CME) opened at $137.60 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $46,754.89, a P/E ratio of 28.78, a P/E/G ratio of 2.81 and a beta of 0.71. CME Group Inc. has a 52-week low of $103.39 and a 52-week high of $141.07.
CME Group (NASDAQ:CME) last issued its earnings results on Thursday, October 26th. The financial services provider reported $1.19 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.03. CME Group had a return on equity of 7.89% and a net margin of 40.94%. The firm had revenue of $890.80 million for the quarter, compared to analyst estimates of $890.22 million. During the same period last year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts predict that CME Group Inc. will post 4.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 27th. Shareholders of record on Friday, December 8th will be given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.92%. CME Group’s dividend payout ratio is presently 59.86%.
CME Group Company Profile
CME Group Inc, through its exchanges, provides products across all asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. The Company’s segment primarily consists of the Chicago Mercantile Exchange Inc (CME), Board of Trade of the City of Chicago, Inc (CBOT), New York Mercantile Exchange, Inc (NYMEX) and Commodity Exchange, Inc (COMEX) exchanges.
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