NewEdge Wealth LLC Trims Stock Position in CME Group Inc. $CME

NewEdge Wealth LLC cut its holdings in shares of CME Group Inc. (NASDAQ:CME) by 30.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,145 shares of the financial services provider’s stock after selling 3,961 shares during the period. NewEdge Wealth LLC’s holdings in CME Group were worth $2,701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CME. Norges Bank acquired a new stake in CME Group during the 4th quarter worth about $1,523,241,000. Victory Capital Management Inc. lifted its holdings in shares of CME Group by 746.4% in the 4th quarter. Victory Capital Management Inc. now owns 2,049,649 shares of the financial services provider’s stock valued at $559,720,000 after buying an additional 1,807,491 shares during the period. Life Cycle Investment Partners Ltd purchased a new stake in shares of CME Group in the fourth quarter worth about $217,656,000. Viking Global Investors LP purchased a new stake in shares of CME Group in the second quarter worth about $164,648,000. Finally, Vanguard Group Inc. grew its holdings in CME Group by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 35,895,583 shares of the financial services provider’s stock worth $9,802,366,000 after acquiring an additional 588,509 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Price Performance

NASDAQ:CME opened at $255.31 on Friday. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $92.51 billion, a PE ratio of 21.65, a price-to-earnings-growth ratio of 3.17 and a beta of 0.25. The stock’s 50-day moving average price is $254.13 and its 200-day moving average price is $281.22.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.CME Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.96 EPS. As a group, equities analysts expect that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Tuesday, June 9th were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 9th. CME Group’s dividend payout ratio (DPR) is presently 44.11%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Rothschild & Co Redburn upgraded CME Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $316.00 to $323.00 in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft lowered their price objective on CME Group from $342.00 to $322.00 and set a “buy” rating on the stock in a research report on Thursday, April 23rd. Morgan Stanley raised their price objective on shares of CME Group from $324.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday. Erste Group Bank lowered shares of CME Group from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, UBS Group decreased their target price on shares of CME Group from $310.00 to $260.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $291.81.

Insider Activity

In other news, CEO Terrence A. Duffy sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the transaction, the chief executive officer owned 55,630 shares in the company, valued at $16,606,111.30. This trade represents a 38.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William R. Shepard purchased 325 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the purchase, the director directly owned 260,442 shares in the company, valued at $60,050,111.94. This trade represents a 0.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

More CME Group News

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: CME Group’s Q2 results topped expectations, and the stock was reported higher on the earnings beat. US Stock Market: CME shares jump 6% after Q2 profit beats estimates; strong hedging demand boosts results
• Positive Sentiment: Analysts noted strong fundamentals and at least one rating upgrade following the earnings release, which can support investor confidence. CME Group: Q2 Earnings Results Lead To A Rating Upgrade
• Neutral Sentiment: UBS reiterated a Hold rating and kept its $260 target, signaling solid fundamentals but limited upside at current valuation. Neutral Stance Reiterated on CME as Solid Fundamentals Meet Valuation Limits; $260 Price Target Maintained
• Negative Sentiment: Bank of America and JPMorgan both maintained bearish/underweight views, even though they slightly raised price targets, highlighting ongoing caution about upside. Analyst price target updates
• Negative Sentiment: Short-interest data showed no meaningful short position, so this headline is unlikely to be a real stock driver and does not change the core thesis.

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.