CME Group Inc. (NASDAQ:CME) Shares Acquired by Assetmark Inc.

Posted by Defense World Staff on Aug 9th, 2023

Assetmark Inc. raised its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 16.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,275 shares of the financial services provider’s stock after purchasing an additional 1,464 shares during the period. Assetmark Inc.’s holdings in CME Group were worth $1,968,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CME. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 133,323 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of CME Group by 0.5% during the third quarter. Bank of New York Mellon Corp now owns 6,913,562 shares of the financial services provider’s stock valued at $1,224,597,000 after purchasing an additional 31,354 shares during the last quarter. Parnassus Investments LLC boosted its position in shares of CME Group by 21.6% in the 1st quarter. Parnassus Investments LLC now owns 5,159,881 shares of the financial services provider’s stock valued at $988,220,000 after purchasing an additional 916,334 shares during the period. Fiera Capital Corp increased 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. Finally, Vontobel Asset Management Inc. raised its holdings in CME Group by 2.1% during 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 buying an additional 79,762 shares during the period. 85.98% of the stock is currently owned by institutional investors.

Insider Transactions at CME Group

In related news, insider Sunil Cutinho sold 10,102 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $198.68, for a total value of $2,007,065.36. Following the completion of the transaction, the insider now directly owns 32,534 shares in the company, valued at approximately $6,463,855.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Hilda Harris Piell sold 4,477 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $207.98, for a total transaction of $931,126.46. Following the completion of the transaction, the insider now directly owns 30,900 shares in the company, valued at $6,426,582. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sunil Cutinho sold 10,102 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $198.68, for a total transaction of $2,007,065.36. Following the completion of the sale, the insider now directly owns 32,534 shares in the company, valued at approximately $6,463,855.12. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

CME Group Price Performance

Shares of CME stock opened at $205.09 on Wednesday. CME Group Inc. has a 1 year low of $166.54 and a 1 year high of $209.24. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $186.75 and its 200-day moving average is $185.12. The firm has a market capitalization of $73.77 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.23 and a beta of 0.43.

CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.10. CME Group had a return on equity of 11.30% and a net margin of 56.88%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business posted $1.97 EPS. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts forecast that CME Group Inc. will post 9.05 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Friday, September 8th will be given a $1.10 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.15%. CME Group’s dividend payout ratio is 53.72%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CME shares. JPMorgan Chase & Co. cut their price target on CME Group from $196.00 to $194.00 and set a “neutral” rating for the company in a research note on Wednesday, April 19th. StockNews.com began coverage on CME Group in a report on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer increased their price target on CME Group from $213.00 to $221.00 and gave the company an “outperform” rating in a report on Wednesday, April 12th. Rosenblatt Securities boosted their price objective on shares of CME Group from $169.00 to $173.00 and gave the stock a “sell” rating in a research note on Thursday, July 27th. Finally, Barclays upped their price target on shares of CME Group from $215.00 to $230.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. One research 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $211.70.

Check Out Our Latest Analysis on CME

CME Group Company Profile

(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.