SPC Financial Inc. lessened its stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,454 shares of the financial services provider’s stock after selling 57 shares during the quarter. SPC Financial Inc.’s holdings in CME Group were worth $676,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in CME. Wealthcare Advisory Partners LLC grew its position in shares of CME Group by 3.6% in the first quarter. Wealthcare Advisory Partners LLC now owns 1,342 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 47 shares during the period. GAMMA Investing LLC grew its position in shares of CME Group by 24.5% in the first quarter. GAMMA Investing LLC now owns 7,007 shares of the financial services provider’s stock valued at $1,859,000 after purchasing an additional 1,381 shares during the period. Stock Yards Bank & Trust Co. purchased a new stake in shares of CME Group in the first quarter valued at $210,000. Wealth Enhancement Advisory Services LLC grew its position in shares of CME Group by 63.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 105,044 shares of the financial services provider’s stock valued at $27,867,000 after purchasing an additional 40,592 shares during the period. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of CME Group in the first quarter valued at $157,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.
Analysts Set New Price Targets
CME has been the subject of a number of recent analyst reports. TD Cowen lifted their price objective on CME Group from $281.00 to $288.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their price objective on CME Group from $303.00 to $312.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Citigroup upgraded CME Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $275.00 to $300.00 in a report on Thursday, September 25th. UBS Group reduced their target price on CME Group from $305.00 to $285.00 and set a “neutral” rating on the stock in a report on Monday, September 8th. Finally, Jefferies Financial Group reduced their target price on CME Group from $313.00 to $304.00 and set a “buy” rating on the stock in a report on Friday. Seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, CME Group currently has an average rating of “Hold” and a consensus price target of $281.00.
Insider Buying and Selling
In other CME Group news, insider Sunil Cutinho sold 11,896 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 17,440 shares in the company, valued at $4,734,436.80. The trade was a 40.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total value of $98,475.57. Following the transaction, the insider owned 9,508 shares in the company, valued at approximately $2,470,463.64. This represents a 3.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,043 shares of company stock worth $3,527,956. Company insiders own 0.30% of the company’s stock.
CME Group Price Performance
Shares of CME Group stock opened at $271.45 on Monday. CME Group Inc. has a twelve month low of $213.94 and a twelve month high of $290.79. The stock has a market capitalization of $97.83 billion, a P/E ratio of 26.28, a PEG ratio of 5.72 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. The business’s fifty day moving average price is $268.89 and its 200 day moving average price is $271.29.
CME Group (NASDAQ:CME – Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.56 earnings per share. As a group, research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current year.
CME Group Announces Dividend
The business also recently disclosed 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 9th. CME Group’s payout ratio is currently 48.40%.
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.
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