DAVENPORT & Co LLC Acquires 1,715 Shares of CME Group Inc. (NASDAQ:CME)

Posted by Defense World Staff on Jul 19th, 2023

DAVENPORT & Co LLC grew its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 51.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,018 shares of the financial services provider’s stock after buying an additional 1,715 shares during the period. DAVENPORT & Co LLC’s holdings in CME Group were worth $961,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of CME Group by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 6,976,560 shares of the financial services provider’s stock valued at $1,171,431,000 after buying an additional 133,323 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in CME Group by 0.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,913,562 shares of the financial services provider’s stock worth $1,224,597,000 after purchasing an additional 31,354 shares in the last quarter. Fiera Capital Corp boosted its stake in CME Group by 22.4% in the 1st quarter. Fiera Capital Corp now owns 4,236,077 shares of the financial services provider’s stock worth $811,293,000 after purchasing an additional 774,832 shares in the last quarter. Vontobel Asset Management Inc. boosted its stake in CME Group by 2.1% in the 4th quarter. Vontobel Asset Management Inc. now owns 3,828,156 shares of the financial services provider’s stock worth $690,127,000 after purchasing an additional 79,762 shares in the last quarter. Finally, Norges Bank bought a new position in CME Group in the 4th quarter worth about $610,482,000. Institutional investors own 85.98% of the company’s stock.

CME Group Price Performance

NASDAQ CME opened at $187.05 on Wednesday. CME Group Inc. has a 52 week low of $166.54 and a 52 week high of $209.24. The firm has a market capitalization of $67.29 billion, a P/E ratio of 23.77, a PEG ratio of 3.93 and a beta of 0.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $182.35 and a 200-day moving average price of $182.86.

CME Group (NASDAQ:CME – Get Free Report) last released its earnings results on Wednesday, April 26th. The financial services provider reported $2.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.06. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.42 billion. CME Group had a net margin of 55.99% and a return on equity of 10.88%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.11 EPS. Equities research analysts anticipate that CME Group Inc. will post 8.86 earnings per share for the current year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 27th. Investors of record on Friday, June 9th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Thursday, June 8th. CME Group’s dividend payout ratio is 55.91%.

Wall Street Analysts Forecast Growth

CME has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price target on shares of CME Group from $196.00 to $194.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 19th. Morgan Stanley boosted their target price on CME Group from $201.00 to $208.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 11th. StockNews.com assumed coverage on CME Group in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer boosted their target price on CME Group from $213.00 to $221.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 12th. Finally, Rosenblatt Securities boosted their target price on CME Group from $161.00 to $169.00 in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, CME Group has a consensus rating of “Moderate Buy” and a consensus target price of $209.30.

About CME Group

(Free Report)

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.