Procyon Advisors LLC Sells 2,405 Shares of CME Group Inc. $CME

Procyon Advisors LLC trimmed its stake in CME Group Inc. (NASDAQ:CME) by 14.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,807 shares of the financial services provider’s stock after selling 2,405 shares during the period. Procyon Advisors LLC’s holdings in CME Group were worth $4,001,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CME. Caldwell Trust Co raised its position in CME Group by 116.3% in the 3rd quarter. Caldwell Trust Co now owns 93 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 50 shares during the last quarter. Highline Wealth Partners LLC grew its holdings in shares of CME Group by 84.3% during the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 43 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of CME Group in the third quarter valued at $27,000. Financial Consulate Inc. bought a new position in shares of CME Group in the third quarter valued at about $28,000. Finally, Sagard Holdings Management Inc. bought a new position in shares of CME Group in the second quarter valued at about $30,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CME. Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $275.00 to $300.00 in a report on Thursday, September 25th. Jefferies Financial Group reduced their target price on shares of CME Group from $313.00 to $304.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Piper Sandler raised their price target on shares of CME Group from $296.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Bank of America boosted their price objective on shares of CME Group from $201.00 to $209.00 in a research report on Wednesday, December 10th. Finally, Raymond James Financial upped their price objective on CME Group from $307.00 to $311.00 and gave the stock an “outperform” rating in a report on Monday, January 5th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, CME Group presently has a consensus rating of “Hold” and a consensus target price of $291.94.

Insider Activity at CME Group

In other news, CEO Terrence A. Duffy sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $269.55, for a total value of $6,738,750.00. Following the completion of the sale, the chief executive officer directly owned 65,804 shares of the company’s stock, valued at $17,737,468.20. This represents a 27.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harold Eugene Jr. Ford sold 1,000 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $263.53, for a total transaction of $263,530.00. Following the completion of the sale, the director owned 1,091 shares in the company, valued at $287,511.23. This represents a 47.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by corporate insiders.

CME Group Trading Up 2.5%

CME opened at $275.23 on Thursday. The firm has a 50 day simple moving average of $274.12 and a 200 day simple moving average of $271.81. CME Group Inc. has a fifty-two week low of $225.46 and a fifty-two week high of $290.79. The company has a market cap of $99.25 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 3.47 and a beta of 0.27. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME) last released its earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.05. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.56 billion. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The business’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 EPS. On average, sell-side 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 Tuesday, December 30th. Investors of record on Friday, December 12th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group’s payout ratio is 48.45%.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.