Hennion & Walsh Asset Management Inc. Reduces Stock Holdings in CME Group Inc. (NASDAQ:CME)

Hennion & Walsh Asset Management Inc. cut its holdings in CME Group Inc. (NASDAQ:CME) by 1.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,974 shares of the financial services provider’s stock after selling 185 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CME Group were worth $2,548,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CME. Truvestments Capital LLC acquired a new position in CME Group in the 3rd quarter valued at about $26,000. Dunhill Financial LLC grew its holdings in shares of CME Group by 188.4% during the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after buying an additional 81 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of CME Group by 120.3% in the fourth quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after buying an additional 83 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after buying an additional 74 shares during the period. Finally, Anchor Investment Management LLC boosted its position in CME Group by 52.4% during the third quarter. Anchor Investment Management LLC now owns 378 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 130 shares during the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

CME Group Price Performance

Shares of NASDAQ CME opened at $232.71 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $249.02. The business has a 50 day moving average price of $233.15 and a two-hundred day moving average price of $219.51. The firm has a market cap of $83.86 billion, a PE ratio of 24.47, a price-to-earnings-growth ratio of 4.93 and a beta of 0.56.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.65 by $0.03. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. During the same quarter last year, the company posted $2.25 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Sell-side analysts expect that CME Group Inc. will post 10.2 earnings per share for the current fiscal year.

CME Group declared that its board has approved a stock repurchase program on Thursday, December 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 3.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

CME Group Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were issued a $5.80 dividend. This is an increase from CME Group’s previous dividend of $2.50. The ex-dividend date of this dividend was Friday, December 27th. CME Group’s payout ratio is 48.37%.

Insider Activity at CME Group

In related news, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the sale, the director now owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Timothy S. Bitsberger sold 1,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total value of $226,960.00. Following the transaction, the director now owns 10,589 shares of the company’s stock, valued at approximately $2,403,279.44. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,274 shares of company stock valued at $1,648,071. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays boosted their price target on CME Group from $231.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Morgan Stanley increased their price objective on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods lowered their target price on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Piper Sandler increased their price target on shares of CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, Bank of America lifted their price target on shares of CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $229.27.

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.