Cibc World Market Inc. Invests $4.49 Million in CME Group Inc. $CME

Cibc World Market Inc. purchased a new stake in CME Group Inc. (NASDAQ:CME) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 20,342 shares of the financial services provider’s stock, valued at approximately $4,492,000.

Several other institutional investors have also added to or reduced their stakes in CME. Empowered Funds LLC boosted its stake in CME Group by 11.5% in the 1st quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock worth $2,660,000 after purchasing an additional 1,037 shares in the last quarter. Marshall Wace LLP increased its stake in CME Group by 103.1% during the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 121,707 shares in the last quarter. Federated Hermes Inc. increased its stake in CME Group by 1,325.2% during the 2nd quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after purchasing an additional 21,918 shares in the last quarter. Nebula Research & Development LLC purchased a new position in shares of CME Group in the second quarter worth $992,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of CME Group by 2.6% in the second quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock worth $79,344,000 after buying an additional 7,397 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Down 0.7%

CME Group stock opened at $277.32 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $99.72 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 3.32 and a beta of 0.23. The business has a 50 day simple moving average of $251.75 and a 200-day simple moving average of $279.35. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The company’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.96 earnings per share. On average, analysts anticipate that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. CME Group’s payout ratio is 44.11%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CME. Bank of America boosted their price target on CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research note on Thursday, July 23rd. Morgan Stanley upped their target price on CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Raymond James Financial reiterated an “outperform” rating and issued a $320.00 price target on shares of CME Group in a report on Thursday, July 2nd. Erste Group Bank cut shares of CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $316.00 to $323.00 in a report on Thursday, June 11th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $288.56.

Insider Activity

In other CME Group news, Director William R. Shepard acquired 325 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. The trade was a 0.12% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.

About CME Group

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.