Westfield Capital Management Co. LP Purchases 2,944 Shares of CME Group Inc. $CME

by · The Cerbat Gem

Westfield Capital Management Co. LP increased its position in CME Group Inc. (NASDAQ:CME – Free Report) by 15.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 21,785 shares of the financial services provider’s stock after buying an additional 2,944 shares during the period. Westfield Capital Management Co. LP’s holdings in CME Group were worth $5,949,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CME. West Family Investments Inc. lifted its stake in CME Group by 1.2% in the 3rd quarter. West Family Investments Inc. now owns 3,062 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 37 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in CME Group by 4.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 898 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 37 shares in the last quarter. Asset Dedication LLC lifted its stake in CME Group by 64.9% in the 4th quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares in the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in CME Group by 0.3% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,523 shares of the financial services provider’s stock worth $3,147,000 after purchasing an additional 37 shares in the last quarter. Finally, 1248 Management LLC lifted its stake in CME Group by 26.8% in the 3rd quarter. 1248 Management LLC now owns 180 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Up 0.5%

Shares of NASDAQ CME opened at $257.40 on Friday. The firm’s 50-day moving average price is $288.35 and its 200-day moving average price is $288.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $93.27 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.86 and a beta of 0.21. CME Group Inc. has a 12-month low of $244.56 and a 12-month high of $329.16.

CME Group (NASDAQ:CME – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.11 by $0.25. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.77 billion. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 EPS. On average, equities research analysts anticipate that CME Group Inc. will post 12.28 EPS for the current fiscal year.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 9th. CME Group’s dividend payout ratio is currently 44.37%.

Insider Activity

In other news, General Counsel Jonathan L. Marcus sold 3,291 shares of the company’s stock in a transaction dated 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 sale, the general counsel directly owned 7,192 shares in the company, valued at approximately $2,397,597.04. This represents a 31.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the completion of the sale, the chief executive officer directly owned 55,630 shares in the company, valued at $16,606,111.30. This trade represents a 38.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 44,044 shares of company stock worth $13,297,507. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on CME shares. Weiss Ratings reiterated a “buy (a-)” rating on shares of CME Group in a research note on Friday, May 29th. Erste Group Bank cut shares of CME Group from a “buy” rating to a “hold” rating in a research note on Friday. Raymond James Financial boosted their price target on shares of CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. boosted their price target on shares of CME Group from $266.00 to $271.00 and gave the stock an “underweight” rating in a research note on Thursday, April 16th. Finally, Jefferies Financial Group decreased their target price on shares of CME Group from $356.00 to $349.00 and set a “buy” rating on the stock in a research report on Thursday, April 9th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, CME Group currently has an average rating of “Hold” and a consensus target price of $305.29.

Read Our Latest Stock Analysis on CME

CME Group Profile

(Free Report)

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.

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