Sumitomo Life Insurance Co. Sells 2,246 Shares of CME Group Inc (CME)

Sumitomo Life Insurance Co. lowered its stake in CME Group Inc (NASDAQ:CME) by 11.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,796 shares of the financial services provider’s stock after selling 2,246 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in CME Group were worth $2,929,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CI Investments Inc. grew its holdings in CME Group by 17.6% during the third quarter. CI Investments Inc. now owns 336,170 shares of the financial services provider’s stock worth $57,219,000 after purchasing an additional 50,392 shares during the period. Franklin Resources Inc. grew its holdings in CME Group by 36.7% during the third quarter. Franklin Resources Inc. now owns 2,086 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 560 shares during the period. LPL Financial LLC grew its holdings in CME Group by 9.2% during the third quarter. LPL Financial LLC now owns 22,500 shares of the financial services provider’s stock worth $3,830,000 after purchasing an additional 1,897 shares during the period. Vident Investment Advisory LLC grew its holdings in CME Group by 11.4% during the third quarter. Vident Investment Advisory LLC now owns 5,709 shares of the financial services provider’s stock worth $972,000 after purchasing an additional 584 shares during the period. Finally, Thrivent Financial for Lutherans grew its holdings in CME Group by 2.3% during the third quarter. Thrivent Financial for Lutherans now owns 14,621 shares of the financial services provider’s stock worth $2,489,000 after purchasing an additional 323 shares during the period. 84.84% of the stock is currently owned by institutional investors and hedge funds.

In other CME Group news, CFO John W. Pietrowicz sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $168.27, for a total transaction of $420,675.00. Following the completion of the transaction, the chief financial officer now directly owns 35,354 shares in the company, valued at $5,949,017.58. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathleen M. Cronin sold 8,340 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $167.54, for a total transaction of $1,397,283.60. Following the transaction, the insider now owns 41,604 shares of the company’s stock, valued at $6,970,334.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,489 shares of company stock valued at $4,948,996. Company insiders own 1.20% of the company’s stock.

A number of brokerages have recently issued reports on CME. Bank of America set a $180.00 price objective on CME Group and gave the stock a “hold” rating in a report on Tuesday, April 9th. Zacks Investment Research cut CME Group from a “hold” rating to a “sell” rating in a report on Tuesday, April 9th. BidaskClub upgraded CME Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, April 3rd. Barclays reduced their price objective on CME Group from $210.00 to $193.00 and set an “overweight” rating for the company in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. reduced their price objective on CME Group from $164.00 to $150.00 and set an “underweight” rating for the company in a report on Friday, March 22nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. CME Group currently has a consensus rating of “Hold” and a consensus price target of $192.00.

Shares of CME stock opened at $174.47 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $62.23 billion, a P/E ratio of 25.58, a P/E/G ratio of 3.54 and a beta of 0.29. CME Group Inc has a 1 year low of $153.90 and a 1 year high of $197.08.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Thursday, February 14th. The financial services provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. CME Group had a return on equity of 9.85% and a net margin of 45.53%. The firm’s revenue for the quarter was up 37.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 earnings per share. As a group, analysts predict that CME Group Inc will post 6.81 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were given a dividend of $0.75 per share. This is an increase from CME Group’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a yield of 1.72%. The ex-dividend date was Thursday, March 7th. CME Group’s payout ratio is currently 43.99%.

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About CME Group

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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