Covington Capital Management Trims Holdings in CME Group Inc. (NASDAQ:CME)

Covington Capital Management decreased its stake in shares of CME Group Inc. (NASDAQ:CME) by 3.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,775 shares of the financial services provider’s stock after selling 56 shares during the quarter. Covington Capital Management’s holdings in CME Group were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CME. Horizon Investments LLC purchased a new stake in CME Group in the first quarter valued at $440,000. Great West Life Assurance Co. Can raised its position in CME Group by 6.6% in the first quarter. Great West Life Assurance Co. Can now owns 371,798 shares of the financial services provider’s stock valued at $75,472,000 after purchasing an additional 23,152 shares during the period. Westpac Banking Corp raised its position in CME Group by 229.1% in the second quarter. Westpac Banking Corp now owns 116,677 shares of the financial services provider’s stock valued at $24,815,000 after purchasing an additional 81,224 shares during the period. Schonfeld Strategic Advisors LLC raised its position in CME Group by 49.4% in the first quarter. Schonfeld Strategic Advisors LLC now owns 96,673 shares of the financial services provider’s stock valued at $19,743,000 after purchasing an additional 31,973 shares during the period. Finally, Usca Ria LLC raised its position in CME Group by 4.4% in the second quarter. Usca Ria LLC now owns 13,069 shares of the financial services provider’s stock valued at $2,780,000 after purchasing an additional 555 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

A number of equities research analysts have commented on the company. Berenberg Bank restated a “hold” rating on shares of CME Group in a research report on Wednesday, September 15th. Piper Sandler reiterated a “buy” rating and issued a $230.00 price objective on shares of CME Group in a report on Friday, October 1st. Morgan Stanley cut their price objective on CME Group from $229.00 to $217.00 and set an “equal weight” rating on the stock in a report on Friday, October 8th. TheStreet downgraded CME Group from a “b” rating to a “c+” rating in a report on Wednesday, August 18th. Finally, Atlantic Securities upgraded CME Group from a “neutral” rating to an “overweight” rating and set a $230.00 price objective on the stock in a report on Tuesday, September 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $211.38.

In other CME Group news, insider Sean Tully sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $200.20, for a total transaction of $1,001,000.00. Following the completion of the sale, the insider now directly owns 23,479 shares of the company’s stock, valued at approximately $4,700,495.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin J. Gepsman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $201.37, for a total value of $201,370.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,000 shares of company stock valued at $1,786,150. Insiders own 0.30% of the company’s stock.

NASDAQ:CME opened at $204.26 on Thursday. The stock has a 50-day simple moving average of $198.24 and a 200-day simple moving average of $206.47. The stock has a market cap of $73.36 billion, a P/E ratio of 38.18 and a beta of 0.43. CME Group Inc. has a 1 year low of $146.89 and a 1 year high of $221.82. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, July 28th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.59 by $0.05. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. CME Group had a return on equity of 8.33% and a net margin of 41.64%. On average, equities research analysts predict that CME Group Inc. will post 6.65 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, September 27th. Investors of record on Friday, September 10th were given a $0.90 dividend. The ex-dividend date was Thursday, September 9th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.76%. CME Group’s dividend payout ratio (DPR) is presently 53.57%.

About CME Group

CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.

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

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