Sunbeam Capital Management LLC Takes Position in CME Group Inc. $CME

Sunbeam Capital Management LLC purchased a new stake in shares of CME Group Inc. (NASDAQ:CME) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 836 shares of the financial services provider’s stock, valued at approximately $230,000.

Other institutional investors have also recently made changes to their positions in the company. Webster Bank N. A. boosted its holdings in shares of CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 60 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of CME Group by 84.3% during 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 last quarter. Wayfinding Financial LLC purchased a new stake in shares of CME Group during the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its holdings in shares of CME Group by 122.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of CME Group by 612.5% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler raised their price target on shares of CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of CME Group in a research note on Saturday, September 27th. Barclays set a $298.00 price objective on shares of CME Group and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. UBS Group lowered their price objective on shares of CME Group from $305.00 to $285.00 and set a “neutral” rating on the stock in a research note on Monday, September 8th. Finally, Morgan Stanley increased their price objective on shares of CME Group from $303.00 to $312.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 1st. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $274.15.

CME Group Price Performance

NASDAQ CME opened at $262.05 on Tuesday. CME Group Inc. has a 12 month low of $213.94 and a 12 month high of $290.79. The stock has a market cap of $94.44 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 5.57 and a beta of 0.41. The company’s 50 day moving average is $269.74 and its two-hundred day moving average is $271.16. 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 released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter last year, the business earned $2.56 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Dividend Announcement

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

Insider Activity

In other news, Director William R. Shepard bought 262 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were bought at an average price of $265.19 per share, for a total transaction of $69,479.78. Following the purchase, the director owned 258,459 shares in the company, valued at approximately $68,540,742.21. The trade was a 0.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sunil Cutinho sold 11,896 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the sale, the insider owned 17,440 shares in the company, valued at approximately $4,734,436.80. The trade was a 40.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,043 shares of company stock worth $3,527,956 in the last quarter. 0.30% of the stock is currently owned by insiders.

CME Group Profile

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.