Kornitzer Capital Management Inc. KS Decreases Position in CME Group Inc. (NASDAQ:CME)

Kornitzer Capital Management Inc. KS cut its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 6.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,690 shares of the financial services provider's stock after selling 4,651 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in CME Group were worth $13,833,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CME. Y.D. More Investments Ltd purchased a new position in shares of CME Group during the second quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in CME Group by 62.2% during the 3rd 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 last quarter. McClarren Financial Advisors Inc. lifted its holdings in shares of CME Group by 66.1% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider's stock valued at $39,000 after buying an additional 78 shares during the period. Asset Dedication LLC boosted its stake in shares of CME Group by 515.2% in the 2nd quarter. Asset Dedication LLC now owns 203 shares of the financial services provider's stock worth $40,000 after buying an additional 170 shares during the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in shares of CME Group in the first quarter worth $82,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CME shares. Piper Sandler raised their price objective on shares of CME Group from $240.00 to $250.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Citigroup lifted their price target on shares of CME Group from $250.00 to $255.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Bank of America upped their price objective on CME Group from $177.00 to $180.00 and gave the stock an "underperform" rating in a research note on Thursday, October 3rd. Redburn Atlantic downgraded CME Group from a "buy" rating to a "neutral" rating and set a $244.00 target price on the stock. in a research report on Tuesday, October 8th. Finally, Barclays upped their price target on CME Group from $219.00 to $231.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $222.73.

Insider Activity at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the business's stock in a transaction on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares in the company, valued at $11,932,706.13. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Bryan T. Durkin sold 7,593 shares of the firm's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $214.59, for a total value of $1,629,381.87. Following the transaction, the director now owns 55,607 shares of the company's stock, valued at $11,932,706.13. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares of the company's stock, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,621 shares of company stock worth $3,441,063. Insiders own 0.30% of the company's stock.

CME Group Price Performance

Shares of CME stock traded up $0.87 during trading hours on Thursday, hitting $222.04. The stock had a trading volume of 1,999,477 shares, compared to its average volume of 1,919,227. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $79.96 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 5.61 and a beta of 0.55. CME Group Inc. has a one year low of $190.70 and a one year high of $230.36. The stock's 50-day moving average price is $221.36 and its two-hundred day moving average price is $209.75.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.03. The company 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%. CME Group's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 earnings per share. Equities analysts forecast that CME Group Inc. will post 10.23 EPS for the current year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.07%. CME Group's dividend payout ratio is presently 48.37%.

CME Group Profile

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.