Patriot Financial Group Insurance Agency LLC Raises Holdings in CME Group Inc (NASDAQ:CME)
Patriot Financial Group Insurance Agency LLC boosted its position in CME Group Inc (NASDAQ:CME) by 26.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 350 shares of the financial services provider’s stock after purchasing an additional 74 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in CME Group were worth $57,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. Thrivent Financial for Lutherans grew its stake in CME Group by 0.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 17,724 shares of the financial services provider’s stock valued at $3,558,000 after acquiring an additional 51 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in shares of CME Group by 37.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,638 shares of the financial services provider’s stock worth $329,000 after purchasing an additional 443 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in shares of CME Group by 27.2% during the 4th quarter. Wesbanco Bank Inc. now owns 2,289 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 490 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of CME Group by 63.8% in the fourth quarter. Meeder Asset Management Inc. now owns 583 shares of the financial services provider’s stock valued at $117,000 after purchasing an additional 227 shares in the last quarter. Finally, Level Four Advisory Services LLC increased its holdings in shares of CME Group by 31.5% in the fourth quarter. Level Four Advisory Services LLC now owns 1,960 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 470 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.
In other news, Director Timothy S. Bitsberger sold 600 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $191.32, for a total value of $114,792.00. Following the completion of the sale, the director now directly owns 9,927 shares of the company’s stock, valued at approximately $1,899,233.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William R. Shepard bought 771 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was purchased at an average cost of $178.10 per share, with a total value of $137,315.10. Following the completion of the transaction, the director now owns 771 shares in the company, valued at $137,315.10. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.
CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.23 by $0.10. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.48 billion. CME Group had a return on equity of 10.15% and a net margin of 45.79%. CME Group’s revenue for the quarter was up 29.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.62 earnings per share. As a group, research analysts anticipate that CME Group Inc will post 7.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $3.40 dividend on an annualized basis and a yield of 2.06%. CME Group’s payout ratio is currently 50.00%.
Several equities research analysts recently issued reports on CME shares. Rosenblatt Securities cut their price objective on shares of CME Group from $153.00 to $152.00 and set a “sell” rating for the company in a research report on Wednesday, June 3rd. Barclays restated a “buy” rating and set a $200.00 price target on shares of CME Group in a report on Tuesday, April 14th. Deutsche Bank decreased their price objective on CME Group from $200.00 to $196.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Cfra cut their target price on CME Group from $218.00 to $205.00 and set a “hold” rating for the company in a research note on Wednesday, April 29th. Finally, Raymond James upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $194.00 target price on the stock in a research report on Monday, March 30th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $190.38.
CME Group 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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