OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 3,040 CME Group Inc. $CME

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in CME Group Inc. (NASDAQ:CME) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,040 shares of the financial services provider’s stock, valued at approximately $671,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in CME Group in the 2nd quarter worth $6,749,965,000. Norges Bank purchased a new position in shares of CME Group in the fourth quarter valued at about $1,523,241,000. Bank of New York Mellon Corp purchased a new position in shares of CME Group in the second quarter valued at about $867,313,000. Alphabet Inc. bought a new position in shares of CME Group in the second quarter worth about $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of CME Group in the second quarter worth about $629,771,000. 87.75% of the stock is currently owned by institutional investors.

CME Group Stock Performance

NASDAQ CME opened at $274.98 on Friday. The business’s 50 day moving average price is $251.17 and its 200-day moving average price is $279.65. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The company has a market cap of $98.88 billion, a P/E ratio of 23.32, a P/E/G ratio of 3.16 and a beta of 0.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.CME Group’s revenue was up .8% on a year-over-year basis. During the same period last year, the company earned $2.96 earnings per share. Sell-side analysts predict that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be paid a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. CME Group’s dividend payout ratio is currently 44.11%.

Insider Activity

In other news, Director William R. Shepard bought 325 shares of the stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the acquisition, the director owned 260,442 shares of the company’s stock, valued at $60,050,111.94. The trade was a 0.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CME. Erste Group Bank downgraded CME Group from a “buy” rating to a “hold” rating in a research note on Friday, June 5th. Keefe, Bruyette & Woods upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, June 18th. Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $316.00 to $323.00 in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut CME Group from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $286.00 to $270.00 in a report on Wednesday. Finally, Weiss Ratings lowered shares of CME Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $288.56.

CME Group 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.