CME Group Inc (NASDAQ:CME) Position Cut by Iron Financial LLC
Iron Financial LLC cut its stake in shares of CME Group Inc (NASDAQ:CME) by 0.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,336 shares of the financial services provider’s stock after selling 400 shares during the period. CME Group accounts for about 15.2% of Iron Financial LLC’s portfolio, making the stock its biggest position. Iron Financial LLC’s holdings in CME Group were worth $20,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Girard Partners LTD. raised its position in CME Group by 3.1% during the second quarter. Girard Partners LTD. now owns 4,363 shares of the financial services provider’s stock valued at $847,000 after purchasing an additional 130 shares during the period. Prime Capital Investment Advisors LLC raised its holdings in shares of CME Group by 59.5% in the second quarter. Prime Capital Investment Advisors LLC now owns 319 shares of the financial services provider’s stock worth $62,000 after buying an additional 119 shares during the period. Doyle Wealth Management purchased a new stake in shares of CME Group in the second quarter worth approximately $58,000. Fox Run Management L.L.C. purchased a new stake in shares of CME Group in the second quarter worth approximately $571,000. Finally, Aperio Group LLC raised its holdings in shares of CME Group by 3.7% in the second quarter. Aperio Group LLC now owns 210,967 shares of the financial services provider’s stock worth $40,951,000 after buying an additional 7,573 shares during the period. Institutional investors and hedge funds own 84.90% of the company’s stock.
CME traded down $7.10 during trading on Monday, hitting $206.07. 1,269,624 shares of the stock were exchanged, compared to its average volume of 1,104,272. The firm has a 50 day simple moving average of $213.58 and a 200 day simple moving average of $198.37. The firm has a market cap of $76.28 billion, a price-to-earnings ratio of 30.22, a P/E/G ratio of 4.51 and a beta of 0.20. CME Group Inc has a 1 year low of $161.05 and a 1 year high of $224.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.05 and a current ratio of 1.05.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.75 per share. The ex-dividend date was Monday, September 9th. This represents a $3.00 annualized dividend and a yield of 1.46%. CME Group’s payout ratio is currently 43.99%.
Several equities research analysts have recently weighed in on CME shares. Deutsche Bank increased their price target on CME Group from $224.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, August 9th. ValuEngine downgraded CME Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Berenberg Bank downgraded CME Group from a “buy” rating to a “hold” rating and reduced their price target for the stock from $236.00 to $227.00 in a report on Thursday, September 19th. UBS Group increased their price target on CME Group from $214.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, Citigroup increased their price target on CME Group from $220.00 to $240.00 and gave the stock a “buy” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $203.14.
In other CME Group news, CEO Terrence A. Duffy sold 35,000 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $200.15, for a total transaction of $7,005,250.00. Following the sale, the chief executive officer now owns 79,057 shares of the company’s stock, valued at approximately $15,823,258.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sunil Cutinho sold 1,990 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $202.38, for a total value of $402,736.20. Following the sale, the insider now directly owns 31,182 shares in the company, valued at approximately $6,310,613.16. The disclosure for this sale can be found here. Insiders have sold a total of 57,126 shares of company stock worth $11,752,684 over the last 90 days. 1.20% of the stock is currently owned by company insiders.
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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