Assenagon Asset Management S.A. Cuts Holdings in CME Group Inc. $CME

Assenagon Asset Management S.A. decreased its holdings in CME Group Inc. (NASDAQ:CME) by 98.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,562 shares of the financial services provider’s stock after selling 603,321 shares during the period. Assenagon Asset Management S.A.’s holdings in CME Group were worth $2,884,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Caldwell Trust Co raised its position in CME Group by 116.3% in the 3rd quarter. Caldwell Trust Co now owns 93 shares of the financial services provider’s stock worth $25,000 after buying an additional 50 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of CME Group during the 3rd quarter valued at about $27,000. Financial Consulate Inc. purchased a new stake in shares of CME Group during the 3rd quarter valued at about $28,000. Global Wealth Strategies & Associates grew its stake in shares of CME Group by 1,250.0% in the fourth quarter. Global Wealth Strategies & Associates now owns 108 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 100 shares during the period. Finally, Sagard Holdings Management Inc. bought a new stake in shares of CME Group in the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of NASDAQ:CME opened at $297.58 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $106.72 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 3.17 and a beta of 0.24. The firm’s 50 day moving average price is $303.12 and its 200-day moving average price is $282.12. CME Group Inc. has a twelve month low of $248.53 and a twelve month high of $329.16.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, February 4th. The financial services provider reported $2.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.75 by $0.02. CME Group had a net margin of 62.45% and a return on equity of 14.65%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $2.52 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts expect that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Tuesday, March 10th were paid a $1.30 dividend. This is a positive change from CME Group’s previous quarterly dividend of $1.25. The ex-dividend date was Tuesday, March 10th. This represents a $5.20 annualized dividend and a dividend yield of 1.7%. CME Group’s dividend payout ratio (DPR) is currently 46.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CME. UBS Group restated a “neutral” rating and set a $310.00 price objective on shares of CME Group in a research report on Friday, February 6th. Barclays lifted their target price on shares of CME Group from $304.00 to $312.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Erste Group Bank upgraded shares of CME Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. increased their price target on CME Group from $262.00 to $266.00 and gave the company an “underweight” rating in a report on Thursday, February 5th. Finally, TD Cowen raised their price target on CME Group from $305.00 to $328.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $304.06.

Insider Buying and Selling

In other CME Group news, General Counsel Jonathan L. Marcus sold 3,291 shares of CME Group stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $333.37, for a total transaction of $1,097,120.67. Following the transaction, the general counsel owned 7,192 shares of the company’s stock, valued at $2,397,597.04. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bryan T. Durkin sold 4,200 shares of CME Group stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $309.65, for a total transaction of $1,300,530.00. Following the transaction, the director owned 43,007 shares in the company, valued at approximately $13,317,117.55. This trade represents a 8.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 8,539 shares of company stock valued at $2,713,821. Company insiders own 0.30% of the company’s stock.

CME Group Company Profile

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.