Quest Capital Management Inc. ADV Trims Holdings in CME Group Inc (NASDAQ:CME)
Quest Capital Management Inc. ADV trimmed its stake in CME Group Inc (NASDAQ:CME) by 99.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 6,329 shares of the financial services provider’s stock after selling 1,072,748 shares during the period. Quest Capital Management Inc. ADV’s holdings in CME Group were worth $1,229,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the company. Close Asset Management Ltd purchased a new stake in CME Group during the 1st quarter worth approximately $34,000. Advantage Investment Management LLC increased its stake in CME Group by 119.0% during the 2nd quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock worth $36,000 after buying an additional 100 shares during the period. Westside Investment Management Inc. purchased a new stake in CME Group during the 2nd quarter worth approximately $38,000. Permanens Capital L.P. purchased a new stake in CME Group during the 1st quarter worth approximately $41,000. Finally, Berman Capital Advisors LLC increased its stake in CME Group by 23.9% during the 1st quarter. Berman Capital Advisors LLC now owns 342 shares of the financial services provider’s stock worth $56,000 after buying an additional 66 shares during the period. 85.72% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Kathleen M. Cronin sold 4,960 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $186.69, for a total value of $925,982.40. Following the completion of the transaction, the insider now owns 49,337 shares in the company, valued at approximately $9,210,724.53. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dennis Suskind sold 1,500 shares of the company’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 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. In the last 90 days, insiders sold 82,363 shares of company stock valued at $16,429,225. Company insiders own 1.20% of the company’s stock.
CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. As a group, equities research analysts predict that CME Group Inc will post 6.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Tuesday, September 10th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Monday, September 9th. CME Group’s payout ratio is 43.99%.
Several equities research analysts recently weighed in on CME shares. UBS Group upped their target price on shares of CME Group from $190.00 to $194.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Citigroup set a $202.00 target price on shares of CME Group and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Barclays upped their target price on shares of CME Group from $191.00 to $197.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Deutsche Bank upped their target price on shares of CME Group from $224.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of CME Group from a “hold” rating to a “sell” rating and set a $158.00 target price on the stock. in a research note on Monday, May 27th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $194.00.
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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