CORDA Investment Management LLC. Has $61.17 Million Stock Holdings in CME Group Inc. $CME

CORDA Investment Management LLC. trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,934 shares of the financial services provider’s stock after selling 4,635 shares during the period. CME Group makes up 4.5% of CORDA Investment Management LLC.’s portfolio, making the stock its biggest holding. CORDA Investment Management LLC. owned approximately 0.06% of CME Group worth $61,170,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CME. GQG Partners LLC boosted its holdings in CME Group by 7,676.3% during the first quarter. GQG Partners LLC now owns 2,205,041 shares of the financial services provider’s stock valued at $584,975,000 after acquiring an additional 2,176,685 shares during the period. Wellington Management Group LLP raised its position in shares of CME Group by 370.5% during the first quarter. Wellington Management Group LLP now owns 2,653,957 shares of the financial services provider’s stock valued at $704,068,000 after buying an additional 2,089,935 shares during the last quarter. Nuveen LLC acquired a new position in shares of CME Group during the first quarter valued at about $218,842,000. Alliancebernstein L.P. raised its position in shares of CME Group by 185.5% during the first quarter. Alliancebernstein L.P. now owns 1,244,608 shares of the financial services provider’s stock valued at $330,182,000 after buying an additional 808,740 shares during the last quarter. Finally, Egerton Capital UK LLP raised its position in shares of CME Group by 79.4% during the first quarter. Egerton Capital UK LLP now owns 1,730,194 shares of the financial services provider’s stock valued at $459,003,000 after buying an additional 765,773 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors.

CME Group Stock Performance

NASDAQ:CME opened at $267.93 on Monday. CME Group Inc. has a 12-month low of $213.94 and a 12-month high of $290.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $96.56 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 6.16 and a beta of 0.41. The firm has a 50-day moving average price of $267.30 and a 200 day moving average price of $271.40.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.05. The company had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company’s revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the business posted $2.56 earnings per share. Research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. CME Group’s dividend payout ratio (DPR) is presently 48.40%.

Insider Activity

In other news, insider Sunil Cutinho sold 11,896 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the completion of the sale, the insider owned 17,440 shares of the company’s stock, valued at approximately $4,734,436.80. This trade represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Timothy Francis Mccourt sold 379 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total transaction of $98,475.57. Following the sale, the insider directly owned 9,508 shares of the company’s stock, valued at approximately $2,470,463.64. The trade was a 3.83% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,043 shares of company stock worth $3,527,956. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CME. UBS Group cut their price objective on shares of CME Group from $305.00 to $285.00 and set a “neutral” rating for the company in a research report on Monday, September 8th. Morgan Stanley upped their price objective on shares of CME Group from $303.00 to $312.00 and gave the company an “overweight” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CME Group from $276.00 to $266.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Piper Sandler upped their price objective on shares of CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of CME Group from $252.00 to $256.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $283.71.

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.