Quantinno Capital Management LP increased its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 29.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,648 shares of the financial services provider's stock after purchasing an additional 4,732 shares during the period. Quantinno Capital Management LP's holdings in CME Group were worth $4,556,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the business. Quarry LP lifted its stake in CME Group by 354.0% during the third quarter. Quarry LP now owns 2,370 shares of the financial services provider's stock worth $523,000 after purchasing an additional 1,848 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of CME Group by 7.5% in the 3rd quarter. Royal London Asset Management Ltd. now owns 492,334 shares of the financial services provider's stock valued at $108,633,000 after purchasing an additional 34,475 shares during the period. Phase 2 Partners LLC purchased a new stake in shares of CME Group in the third quarter valued at about $5,683,000. Prana Capital Management LP purchased a new position in CME Group in the 3rd quarter valued at $11,716,000. Finally, Prevatt Capital Ltd lifted its position in CME Group by 30.4% in the third quarter. Prevatt Capital Ltd now owns 150,000 shares of the financial services provider's stock valued at $33,098,000 after purchasing an additional 35,000 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CME. Oppenheimer upped their price objective on CME Group from $245.00 to $258.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CME Group from $227.00 to $226.00 and set a "hold" rating on the stock in a report on Monday, November 11th. Piper Sandler boosted their price target on CME Group from $240.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, October 28th. Citigroup raised their price objective on CME Group from $250.00 to $255.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $235.00 target price on shares of CME Group in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $224.47.
Read Our Latest Stock Analysis on CME
Insider Transactions at CME Group
In other CME Group news, Director Martin J. Gepsman sold 400 shares of the firm's stock in a transaction that occurred on Monday, November 4th. The shares were 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 in the company, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy S. Bitsberger sold 1,000 shares of the business's stock in a transaction that occurred 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. This represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,028 shares of company stock worth $1,811,681. 0.30% of the stock is currently owned by insiders.
CME Group Stock Down 2.7 %
Shares of CME stock traded down $6.64 during mid-day trading on Friday, reaching $239.38. 3,162,381 shares of the company were exchanged, compared to its average volume of 2,169,070. The company has a market capitalization of $86.26 billion, a P/E ratio of 25.17, a P/E/G ratio of 5.61 and a beta of 0.56. The business's 50 day simple moving average is $227.88 and its 200 day simple moving average is $212.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $249.02.
CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.03. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The company's revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.25 EPS. Research analysts predict that CME Group Inc. will post 10.22 earnings per share for the current year.
CME Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, December 9th. CME Group's dividend payout ratio is presently 48.37%.
CME Group announced that its board has approved a share repurchase program on Thursday, December 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.
About CME Group
(
Free Report)
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.
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