Elevate Capital Advisors LLC Decreases Stock Position in CME Group Inc. $CME

Elevate Capital Advisors LLC cut its stake in CME Group Inc. (NASDAQ:CME) by 14.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,600 shares of the financial services provider’s stock after selling 808 shares during the period. Elevate Capital Advisors LLC’s holdings in CME Group were worth $1,268,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CME. Great Lakes Advisors LLC increased its position in CME Group by 2.3% in the 1st quarter. Great Lakes Advisors LLC now owns 1,661 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 37 shares during the period. Beaumont Financial Advisors LLC increased its position in CME Group by 2.0% in the 2nd quarter. Beaumont Financial Advisors LLC now owns 1,952 shares of the financial services provider’s stock valued at $538,000 after acquiring an additional 38 shares during the period. SeaCrest Wealth Management LLC increased its position in CME Group by 3.0% in the 1st quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 40 shares during the period. OneAscent Financial Services LLC increased its position in CME Group by 4.0% in the 1st quarter. OneAscent Financial Services LLC now owns 1,106 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 43 shares during the period. Finally, Highline Wealth Partners LLC increased its position in CME Group by 84.3% in the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 43 shares during the period. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on CME Group from $246.00 to $252.00 and gave the company an “underweight” rating in a research report on Thursday, September 25th. Barclays set a $298.00 price target on CME Group and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of CME Group in a report on Saturday, September 27th. Oppenheimer lifted their price objective on CME Group from $300.00 to $303.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Finally, Piper Sandler lifted their price objective on CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $274.15.

CME Group Price Performance

Shares of CME opened at $264.67 on Friday. CME Group Inc. has a twelve month low of $213.94 and a twelve month high of $290.79. The stock’s 50 day moving average is $269.98 and its two-hundred day moving average is $271.09. The firm has a market capitalization of $95.38 billion, a PE ratio of 25.62, a P/E/G ratio of 5.59 and a beta of 0.41. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping the consensus estimate of $2.91 by $0.05. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.56 EPS. Research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. CME Group’s payout ratio is 48.40%.

Insider Transactions at CME Group

In other news, General Counsel Jonathan L. Marcus sold 392 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the sale, the general counsel owned 7,851 shares of the company’s stock, valued at $2,056,962. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total value of $98,475.57. Following the sale, the insider directly owned 9,508 shares in the company, valued at $2,470,463.64. This trade represents a 3.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,043 shares of company stock worth $3,527,956 over the last quarter. Insiders own 0.30% of the company’s stock.

About CME Group

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.