1832 Asset Management L.P. Decreases Stake in CME Group Inc. (NASDAQ:CME)

1832 Asset Management L.P. cut its stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 6.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 846,307 shares of the financial services provider's stock after selling 62,608 shares during the quarter. 1832 Asset Management L.P. owned about 0.24% of CME Group worth $166,384,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Gold Investment Management Ltd. bought a new position in CME Group in the 4th quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new position in shares of CME Group during the first quarter valued at $28,000. Y.D. More Investments Ltd purchased a new stake in shares of CME Group during the second quarter valued at $36,000. McClarren Financial Advisors Inc. increased its holdings in CME Group by 66.1% in the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider's stock worth $39,000 after buying an additional 78 shares in the last quarter. Finally, Asset Dedication LLC raised its position in 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. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insider Transactions at CME Group

In other news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction dated Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares in the company, valued at approximately $2,877,504.39. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

CME Group Price Performance

Shares of CME traded down $1.60 during mid-day trading on Friday, reaching $213.16. The stock had a trading volume of 2,898,629 shares, compared to its average volume of 1,961,700. The business has a fifty day moving average of $207.86 and a 200 day moving average of $207.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $76.75 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 8.85 and a beta of 0.55. CME Group Inc. has a 12 month low of $190.70 and a 12 month high of $223.80.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the prior year, the firm posted $2.30 EPS. CME Group's quarterly revenue was up 12.7% compared to the same quarter last year. Equities analysts predict that CME Group Inc. will post 9.94 EPS for the current year.

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Monday, September 9th. CME Group's payout ratio is currently 52.33%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CME. Bank of America downgraded shares of CME Group from a "neutral" rating to an "underperform" rating and dropped their price target for the company from $212.00 to $177.00 in a report on Tuesday, September 3rd. Barclays raised their target price on shares of CME Group from $208.00 to $209.00 and gave the stock an "equal weight" rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of CME Group from $193.00 to $200.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Piper Sandler restated an "overweight" rating and issued a $225.00 price target on shares of CME Group in a research note on Tuesday, August 20th. Finally, Keefe, Bruyette & Woods upped their price objective on CME Group from $212.00 to $213.00 and gave the company a "market perform" rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, CME Group currently has a consensus rating of "Hold" and an average target price of $209.73.

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.