Bank Pictet & Cie Europe AG Buys 954 Shares of CME Group Inc. $CME

Bank Pictet & Cie Europe AG grew its stake in CME Group Inc. (NASDAQ:CME) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,920 shares of the financial services provider’s stock after buying an additional 954 shares during the period. Bank Pictet & Cie Europe AG’s holdings in CME Group were worth $20,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in CME Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 34,643,827 shares of the financial services provider’s stock valued at $9,190,661,000 after purchasing an additional 400,737 shares during the period. Raymond James Financial Inc. boosted its stake in shares of CME Group by 9.7% in the 1st quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider’s stock valued at $1,091,401,000 after purchasing an additional 363,130 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of CME Group by 29.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider’s stock worth $747,744,000 after buying an additional 648,591 shares during the period. AQR Capital Management LLC increased its position in shares of CME Group by 10.3% during the first quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider’s stock worth $735,539,000 after buying an additional 260,065 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in CME Group by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,727,809 shares of the financial services provider’s stock worth $723,660,000 after buying an additional 290,147 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $275.00 to $300.00 in a research report on Thursday. Wall Street Zen lowered CME Group from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. UBS Group decreased their target price on CME Group from $305.00 to $285.00 and set a “neutral” rating for the company in a research note on Monday, September 8th. Oppenheimer boosted their price target on CME Group from $300.00 to $303.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Piper Sandler increased their price target on CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $268.14.

Insider Buying and Selling at CME Group

In other CME Group news, insider Sunil Cutinho sold 11,896 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the transaction, the insider owned 17,440 shares in the company, valued at approximately $4,734,436.80. This represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total transaction of $98,475.57. Following the completion of the transaction, the insider directly owned 9,508 shares in the company, valued at $2,470,463.64. This trade represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,043 shares of company stock worth $3,527,956. 0.30% of the stock is owned by corporate insiders.

CME Group Stock Performance

Shares of CME Group stock opened at $268.73 on Friday. The business has a 50-day simple moving average of $270.96 and a 200 day simple moving average of $270.80. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $96.84 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 4.79 and a beta of 0.43.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.05. The firm had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.56 earnings per share. On average, research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 9th were given a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $5.00 annualized dividend and a yield of 1.9%. CME Group’s dividend payout ratio (DPR) is presently 48.40%.

CME Group Profile

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.