Auto Owners Insurance Co Sells 298,041 Shares of CME Group Inc. $CME

Auto Owners Insurance Co cut its position in CME Group Inc. (NASDAQ:CME) by 99.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,959 shares of the financial services provider’s stock after selling 298,041 shares during the quarter. Auto Owners Insurance Co’s holdings in CME Group were worth $540,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its holdings in shares of CME Group by 256.9% during the first quarter. Catalyst Capital Advisors LLC now owns 3,662 shares of the financial services provider’s stock valued at $971,000 after acquiring an additional 2,636 shares in the last quarter. OMNI 360 Wealth Inc. acquired a new position in shares of CME Group during the first quarter valued at about $367,000. Fulcrum Equity Management acquired a new position in shares of CME Group during the first quarter valued at about $258,000. AIA Group Ltd increased its holdings in shares of CME Group by 17.8% during the first quarter. AIA Group Ltd now owns 16,645 shares of the financial services provider’s stock valued at $4,416,000 after acquiring an additional 2,510 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its holdings in shares of CME Group by 28.8% during the first quarter. Summit Trail Advisors LLC now owns 5,323 shares of the financial services provider’s stock valued at $1,412,000 after acquiring an additional 1,189 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Insider Transactions at CME Group

In other CME Group news, insider Sunil Cutinho sold 11,896 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total value of $3,229,407.12. Following the completion of the sale, the insider directly owned 17,440 shares of the company’s stock, valued at $4,734,436.80. This trade represents a 40.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the firm’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total value of $98,475.57. Following the completion of the sale, the insider directly owned 9,508 shares of the company’s stock, valued at $2,470,463.64. This trade represents a 3.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 13,043 shares of company stock valued at $3,527,956 in the last 90 days. 0.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CME shares. 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 report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upgraded shares of CME Group from a “hold” rating to a “buy” rating and upped their price objective for the company from $266.00 to $300.00 in a report on Thursday, October 23rd. TD Cowen upped their target price on CME Group from $288.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Raymond James Financial dropped their target price on CME Group from $309.00 to $307.00 and set an “outperform” rating on the stock in a research report on Monday, October 13th. Finally, Citigroup upgraded CME Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $275.00 to $300.00 in a research report on Thursday, September 25th. Eight research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CME Group has an average rating of “Hold” and an average price target of $284.53.

CME Group Stock Down 1.8%

NASDAQ CME opened at $266.33 on Wednesday. The business has a fifty day moving average price of $266.38 and a 200 day moving average price of $272.08. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $95.98 billion, a P/E ratio of 25.81, a P/E/G ratio of 4.58 and a beta of 0.41.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $2.68 EPS for the quarter, beating the consensus estimate of $2.63 by $0.05. CME Group had a return on equity of 14.61% and a net margin of 58.84%.The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the company earned $2.68 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year. Research analysts anticipate that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 9th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group’s dividend payout ratio is currently 48.45%.

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.