Gradient Investments LLC Cuts Holdings in CME Group Inc. (NASDAQ:CME)

Gradient Investments LLC cut its stake in shares of CME Group Inc. (NASDAQ:CME) by 1.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,880 shares of the financial services provider’s stock after selling 1,133 shares during the quarter. Gradient Investments LLC’s holdings in CME Group were worth $13,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Second Half Financial Partners LLC purchased a new stake in shares of CME Group during the fourth quarter valued at approximately $2,737,000. Raymond James Financial Services Advisors Inc. grew its position in shares of CME Group by 2.3% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,041,526 shares of the financial services provider’s stock worth $224,230,000 after buying an additional 23,340 shares in the last quarter. Bluefin Capital Management LLC bought a new position in shares of CME Group in the 4th quarter worth $2,891,000. Alaska Permanent Fund Corp grew its stake in shares of CME Group by 81.4% during the first quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock worth $9,588,000 after acquiring an additional 19,985 shares during the last quarter. Finally, Western Pacific Wealth Management LP raised its position in CME Group by 20.2% during the 4th quarter. Western Pacific Wealth Management LP now owns 523 shares of the financial services provider’s stock worth $110,000 after buying an additional 88 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods upped their price target on CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Bank of America increased their target price on shares of CME Group from $209.00 to $216.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Piper Sandler decreased their price target on CME Group from $235.00 to $225.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their price objective on shares of CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, CME Group currently has an average rating of “Hold” and an average price target of $213.27.

Insider Buying and Selling at CME Group

In related news, Director Charles P. Carey sold 3,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $195.44, for a total value of $586,320.00. Following the completion of the transaction, the director now owns 7,163 shares of the company’s stock, valued at approximately $1,399,936.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Charles P. Carey sold 3,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $195.44, for a total transaction of $586,320.00. Following the transaction, the director now owns 7,163 shares in the company, valued at approximately $1,399,936.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizabeth A. Cook sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $211.52, for a total value of $211,520.00. Following the sale, the director now owns 18,241 shares of the company’s stock, valued at $3,858,336.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,650 shares of company stock valued at $928,776. Corporate insiders own 0.30% of the company’s stock.

CME Group Stock Performance

CME traded up $2.59 on Friday, hitting $207.88. 1,115,669 shares of the company’s stock were exchanged, compared to its average volume of 1,947,617. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $223.80. The firm has a market cap of $74.85 billion, a PE ratio of 23.65, a P/E/G ratio of 6.27 and a beta of 0.52. The stock has a fifty day moving average of $198.53 and a two-hundred day moving average of $207.04.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the firm earned $2.30 EPS. CME Group’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, research analysts anticipate that CME Group Inc. will post 9.8 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $4.60 annualized dividend and a yield of 2.21%. CME Group’s dividend payout ratio (DPR) is presently 52.33%.

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.