CME Group Inc (NASDAQ:CME) Stake Boosted by Axa

Axa grew its stake in shares of CME Group Inc (NASDAQ:CME) by 4.9% during the 2nd quarter, according to the company in its most recent filing with …

CME Group logoAxa grew its stake in shares of CME Group Inc (NASDAQ:CME) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,769 shares of the financial services provider’s stock after acquiring an additional 9,434 shares during the period. Axa owned 0.06% of CME Group worth $38,971,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CME. Geode Capital Management LLC grew its holdings in shares of CME Group by 12.9% during the 4th quarter. Geode Capital Management LLC now owns 4,715,269 shares of the financial services provider’s stock valued at $885,776,000 after acquiring an additional 537,917 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of CME Group by 189.8% during the 1st quarter. Victory Capital Management Inc. now owns 98,067 shares of the financial services provider’s stock valued at $16,140,000 after acquiring an additional 64,233 shares in the last quarter. Bbva Compass Bancshares Inc. grew its holdings in shares of CME Group by 41.1% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 1,017 shares of the financial services provider’s stock valued at $167,000 after acquiring an additional 296 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of CME Group by 31.9% during the 1st quarter. Cetera Investment Advisers now owns 1,447 shares of the financial services provider’s stock valued at $239,000 after acquiring an additional 350 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of CME Group by 385.0% during the 1st quarter. Teacher Retirement System of Texas now owns 64,770 shares of the financial services provider’s stock valued at $10,660,000 after acquiring an additional 51,414 shares in the last quarter. Institutional investors and hedge funds own 84.99% of the company’s stock.

CME has been the subject of several analyst reports. Wells Fargo & Co lifted their price objective on shares of CME Group from $176.00 to $200.00 and gave the company a “market perform” rating in a research note on Wednesday, July 3rd. Deutsche Bank lifted their price objective on shares of CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group lifted their price objective on shares of CME Group from $191.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. BidaskClub lowered shares of CME Group from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating and set a $158.00 price objective for the company. in a research note on Monday, May 27th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. CME Group currently has an average rating of “Hold” and a consensus price target of $196.85.

In other news, Director Daniel R. Glickman sold 500 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $216.01, for a total transaction of $108,005.00. Following the transaction, the director now owns 14,593 shares in the company, valued at approximately $3,152,233.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sunil Cutinho sold 1,990 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $202.38, for a total transaction of $402,736.20. Following the transaction, the insider now owns 31,182 shares in the company, valued at approximately $6,310,613.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,626 shares of company stock worth $12,255,934. Insiders own 1.20% of the company’s stock.

CME Group stock opened at $205.80 on Friday. The firm has a fifty day moving average price of $211.25 and a two-hundred day moving average price of $191.16. CME Group Inc has a fifty-two week low of $161.05 and a fifty-two week high of $224.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $73.70 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 4.57 and a beta of 0.19.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.01. CME Group had a net margin of 39.36% and a return on equity of 9.14%. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the firm posted $1.74 EPS. The business’s revenue was up 20.1% compared to the same quarter last year. As a group, sell-side analysts expect that CME Group Inc will post 6.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. CME Group’s payout ratio is 43.99%.

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.

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

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Axa Has $38.97 Million Position in CME Group Inc (NASDAQ:CME)

Axa boosted its holdings in CME Group Inc (NASDAQ:CME) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor …

CME Group logoAxa boosted its holdings in CME Group Inc (NASDAQ:CME) by 4.9% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 200,769 shares of the financial services provider’s stock after acquiring an additional 9,434 shares during the quarter. Axa’s holdings in CME Group were worth $38,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Close Asset Management Ltd acquired a new stake in CME Group in the first quarter worth $34,000. Advantage Investment Management LLC raised its holdings in CME Group by 119.0% in the second quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 100 shares during the period. Westside Investment Management Inc. acquired a new stake in CME Group in the second quarter worth $38,000. Permanens Capital L.P. acquired a new stake in CME Group in the first quarter worth $41,000. Finally, Motco raised its holdings in CME Group by 55.8% in the second quarter. Motco now owns 268 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 84.99% of the company’s stock.

CME has been the topic of several analyst reports. BidaskClub lowered shares of CME Group from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research lowered shares of CME Group from a “hold” rating to a “sell” rating and set a $158.00 target price on the stock. in a report on Monday, May 27th. UBS Group increased their target price on shares of CME Group from $191.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Barclays increased their target price on shares of CME Group from $191.00 to $197.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co increased their target price on shares of CME Group from $176.00 to $200.00 and gave the stock a “market perform” rating in a report on Wednesday, July 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $196.85.

In related news, Director Daniel R. Glickman sold 500 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $216.01, for a total value of $108,005.00. Following the completion of the transaction, the director now owns 14,593 shares of the company’s stock, valued at $3,152,233.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Dennis Suskind sold 1,500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $212.46, for a total transaction of $318,690.00. Following the completion of the transaction, the director now directly owns 4,853 shares of the company’s stock, valued at approximately $1,031,068.38. The disclosure for this sale can be found here. Insiders have sold 59,626 shares of company stock valued at $12,255,934 in the last three months. 1.20% of the stock is owned by insiders.

Shares of CME stock opened at $205.80 on Friday. The firm has a fifty day moving average of $211.25 and a 200-day moving average of $191.16. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.15. CME Group Inc has a 12-month low of $161.05 and a 12-month high of $224.91. The company has a market capitalization of $73.70 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 4.57 and a beta of 0.19.

CME Group (NASDAQ:CME) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.01. CME Group had a net margin of 39.36% and a return on equity of 9.14%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the prior year, the firm earned $1.74 earnings per share. The firm’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts expect that CME Group Inc will post 6.69 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, September 9th. CME Group’s dividend payout ratio is 43.99%.

CME Group Company Profile

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.

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Want to see what other hedge funds are holding CME?Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc (NASDAQ:CME).

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

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Revealed – Finalists for Women in Insurance Awards

The Insurance Business Women in Insurance Summit has been a … Suzy Middleton – SEIB Insurance Brokers … Claire Sadler – Direct Line Group
Revealed - Finalists for Women in Insurance Awards

The Insurance Business Women in Insurance Summit has been a massively successful worldwide event that this year alone has included stops in Auckland, Sydney, Toronto, New York, Chicago, San Francisco and a host of other international venues. Now, for the second year running, the event is returning to London – and this time it’s bigger and better than ever with an awards ceremony to conclude the proceedings.

The event, supported by Bravo Group and the Insurance Supper Club, which boasts Inga Beale as its keynote speaker and takes place at the Tower Hotel in London on October 10, brings together insurance professionals from across the UK to discuss and debate a range of topics including how to develop your leadership style and how to achieve true diversity and inclusion in an insurance business.

As the day’s events draw to a conclusion, there will be a UK-first awards ceremony to celebrate the industry’s finest – with a prestigious panel of judges whittling their way through the finalists list which has now been revealed after Insurance Business was inundated with nominations throughout the summer. Categories include the Markerstudy Award for Insurance Broker of the Year and the Award for Employer of Choice.

Here is the list of finalists by category…

The Award for Employer of Choice

Romero Insurance Brokers

Zurich Insurance

Markerstudy Group

Ageas

AIG UK

Allianz Insurance

Marsh

The Markerstudy Award for Insurance Broker of the Year

Georgina Robinson – Miller Insurance Services

Suzy Middleton – SEIB Insurance Brokers

Bethan Perris – Vista Insurance Brokers Limited

Kayleigh Leatherdale – Aon Risk Solutions

Sian Cassie – Towergate Insurance Brokers

Diana Zolinska – Gallagher

Moira Rhodes – Lockton Re

The Award for Mentor of the Year

Gill Anderson – Rural & Commercial Holdings

Andrea Loasby – Aspray Limited

Anne Blume – CLM Alliance

Moira O’Connell – Premfina

Carol Ann Burton – HFW

Ann Owen – AXA XL

Terri Adams – FAS Global, Sedgwick

Aimee Wyatt – Bond Lovis Insurance Brokers

Nisha Manaktala – AutoProtect

The Award for Rising Star of the Year

Colette Crawford – Marsh

Hannah Dixon – Chubb

Maisie Gallagher – Marsh

Cristina Sinchetriu – CLS Risk Solutions

Clare Talbot-Jones – Talbot Jones Ltd

Penny Andrews – CLS Risk Solutions

Vicky Sweeney – CLS Risk Solutions

The Award for Woman of Distinction

Zoe Fowles – AXA Insurance

Naomi Cresswell – Aon

Claire Sadler – Direct Line Group

Julie Rayson-Flynn – Brokerbility

Claire Russell – Perry Appleton Group

Dawn Henderson – Origin UW Ltd

Sara Fardon – Willis Towers Watson Networks

Lynn Cufley – Crawford & Co

Lisa Blomfield – Allianz Insurance

Find out more about the event, including how you can attend here.

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Motorway Direct sells Business & Domestic Insurance Services

Business & Domestic Insurance Services (B & D) has been snapped up by CPP Group UK from Motorway Direct Plc, in a deal that sees the insurtech …
Motorway Direct sells Business & Domestic Insurance Services

Business & Domestic Insurance Services (B & D) has been snapped up by CPP Group UK from Motorway Direct Plc, in a deal that sees the insurtech enter the world of insurance broking.

The transaction, financial terms of which were not disclosed, translates to CPP Group UK taking on the administration of more than 160,000 policies for niche products such as excess protection, total loss protection, legal expenses, and brown and white goods warranty.

“This is an exciting time for CPP Group UK, as we begin to broaden and diversify our product offering and operational capabilities,” commented managing director Michael Whitfield (pictured).

“The acquisition of B & D signals our entrance into the UK broker market in a very substantial way. We will rapidly expand our presence in the coming months, with more products and services in the pipeline.”

Earlier this month the Leeds-based financial assistance product provider appointed AXA alumnus Dave Ross and Zurich veteran Joanne Neill as commercial director and sales manager, respectively.

Meanwhile, B & D co-founders Chris U’Dell and Linda U’Dell will become part of CPP Group UK, with Chris assuming the newly created director of broker services position.

“B & D is a market leader in the ancillary product field, with an array of longstanding partnership relationships and a great range of innovative products,” added Whitfield.

“We very much look forward to building the business further by combining CPP’s technology capabilities with Chris and Linda’s undoubted product expertise – a great combination.”

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AXA XL Partners with Insurtech Neptune Flood to Expand Private Flood Insurance

AXA XL is partnering with digital private flood insurance program manager Neptune Flood in a strategic underwriting partnership that will more than …

AXA XL is partnering with digital private flood insurance program manager Neptune Flood in a strategic underwriting partnership that will more than double Neptune’s capacity across the country.

According to CEO Jim Albert, the new partnership doesn’t change Neptune’s core coverage offering, which includes replacement cost, temporary living expense, basement contents, pool repair/refill and detached structures. Neptune provides limits up to $2 million in coverage for property and $500,000 for contents with a reduced waiting of 10 days vs. the 30-day waiting period under the NFIP. There’s no waiting period for loan transactions.

Neptune is now authorized to write coverage in all 50 states through the partnership with AXA XL. It was previously able to offer coverage in 37 states.

Neptune offers agents and direct buyers the ability to quote and bind a flood insurance policy in minutes, using advanced data analytics to deliver a custom quote for each residence. The company was founded in 2016 and uses a fully-automated analytics-enabled service platform that allows homeowners to price their home’s risk for flood in real-time. Neptune Flood offers coverage to residences in all flood zones, including non-mandatory “X” zones that have been hit so hard in recent years.

Albert said the company wrote 10,000 policies last year and looks to increase that number three to four times by 2020. He said AXA XL was interested in partnering because of its digital underwriting model.

“AXA XL is the largest P&C insurer in the world – it is a big deal for them to engage with insurtechs like us,” Albert said.

Neptune Flood’s policies are also backed by global reinsurers rated “A” by A.M. Best, including State National and Lloyd’s of London. Albert said Neptune will continue these relationships and look for additional insurers to partner with.

According to Chris Bressette, senior vice president and head of AXA XL’s North America Program business, private residential flood Insurance in the U.S. has emerged as a rare growth opportunity in an otherwise crowded P/C insurance market.

“We are thrilled to be working with such a capable Delegated Program Administrator partner. Neptune has very strong technical analytic capabilities, a deep understanding of related legislative issues, and a unique and responsive client service platform,” he said.

In January 2018, Neptune raised over $2 million in seed financing led by C1 Bank founder and former CEO Trevor Burgess who now serves as Neptune’s chairman.

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