Meiji Yasuda Life Insurance Co significantly increased its holdings in CME Group Inc. (NASDAQ:CME) by 83.2% during the fourth quarter, as revealed in its latest filing with the Securities and Exchange Commission (SEC). The firm now owns 2,950 shares of the financial services provider’s stock, valued at $685,000.
Other institutional investors have also adjusted their positions in CME Group. Vanguard Group Inc. increased its stake by 1.0%, now holding 34,243,090 shares worth $7,952,273,000. Geode Capital Management LLC grew its position by 1.3%, owning 8,389,442 shares valued at $1,946,717,000. Price T Rowe Associates Inc. MD boosted its holdings by 89.9%, now possessing 8,280,785 shares worth $1,923,047,000. Norges Bank established a new position in CME Group worth $1,107,389,000, while FIL Ltd increased its holdings by 1.5%, now owning 4,081,391 shares valued at $947,821,000.
CME Group Performance and Financials
CME Group’s stock opened at $280.45 on Friday, with a 52-week low of $190.70 and a high of $282.10. The company has a market capitalization of $101.06 billion and a P/E ratio of 29.00. CME Group reported quarterly earnings of $2.80 per share, beating analysts’ consensus estimates of $2.61. The company’s quarterly revenue was $1.64 billion, up 10.4% year-over-year.
Dividend Increase and Insider Activity
CME Group recently announced a quarterly dividend increase to $1.25 per share, paid on March 26th. This represents a $5.00 annualized dividend and a dividend yield of 1.78%. Insider activity includes Director Larry G. Gerdes selling 2,000 shares and Director Dennis Suskind selling 1,000 shares in April.
Analyst Ratings and Outlook
Several brokerages have commented on CME Group. Barclays raised its target price to $283.00 with an ‘equal weight’ rating, while Bank of America set a target price of $219.00 with an ‘underperform’ rating. The company currently has an average rating of ‘Hold’ with a consensus target price of $256.80.
