abrdn plc boosted its holdings in CME Group Inc. (NASDAQ:CME) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,782 shares of the financial services provider’s stock after purchasing an additional 72,908 shares during the quarter. abrdn plc’s holdings in CME Group were worth $173,712,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in CME. Certified Advisory Corp purchased a new stake in shares of CME Group in the first quarter valued at about $27,000. Solstein Capital LLC purchased a new position in shares of CME Group during the 1st quarter worth approximately $28,000. RE Advisers Corp acquired a new stake in shares of CME Group in the 2nd quarter valued at approximately $38,000. Capital Analysts LLC boosted its stake in shares of CME Group by 370.0% in the first quarter. Capital Analysts LLC now owns 188 shares of the financial services provider’s stock valued at $38,000 after buying an additional 148 shares in the last quarter. Finally, Glassman Wealth Services grew its holdings in CME Group by 54.0% during the second quarter. Glassman Wealth Services now owns 191 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 67 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.
In other CME Group news, insider Sean Tully sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $200.20, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider now owns 23,479 shares of the company’s stock, valued at $4,700,495.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Martin J. Gepsman sold 1,000 shares of the business’s stock in a transaction dated Monday, August 23rd. The shares were sold at an average price of $201.37, for a total value of $201,370.00. The disclosure for this sale can be found here. Insiders sold 9,000 shares of company stock valued at $1,786,150 over the last quarter. Insiders own 0.30% of the company’s stock.
CME Group (NASDAQ:CME) last released its earnings results on Wednesday, July 28th. The financial services provider reported $1.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. CME Group had a return on equity of 8.33% and a net margin of 41.64%. On average, sell-side analysts predict that CME Group Inc. will post 6.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 27th. Investors of record on Friday, September 10th will be paid a $0.90 dividend. The ex-dividend date of this dividend is Thursday, September 9th. This represents a $3.60 annualized dividend and a yield of 1.92%. CME Group’s payout ratio is currently 53.57%.
Several equities research analysts have commented on the stock. Berenberg Bank restated a “hold” rating on shares of CME Group in a research report on Wednesday. Morgan Stanley lifted their price target on shares of CME Group from $228.00 to $229.00 and gave the company an “equal weight” rating in a research report on Thursday, July 1st. Atlantic Securities upgraded CME Group from a “neutral” rating to an “overweight” rating and set a $230.00 price target on the stock in a report on Tuesday. Finally, TheStreet downgraded CME Group from a “b” rating to a “c+” rating in a research note on Wednesday, August 18th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $210.83.
CME Group Profile
CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.
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