Brown Brothers Harriman & Co. Has $2.27 Million Stock Holdings in CME Group Inc. (NASDAQ:CME)

Brown Brothers Harriman & Co. raised its stake in shares of CME Group Inc. (NASDAQ:CME) by 17.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,546 shares of the financial services provider’s stock after buying an additional 1,736 shares during the period. Brown Brothers Harriman & Co.’s holdings in CME Group were worth $2,270,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CME. Bluefin Capital Management LLC acquired a new stake in CME Group during the fourth quarter valued at $2,891,000. Alaska Permanent Fund Corp lifted its holdings in shares of CME Group by 81.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock valued at $9,588,000 after buying an additional 19,985 shares during the last quarter. Western Pacific Wealth Management LP grew its stake in shares of CME Group by 20.2% in the 4th quarter. Western Pacific Wealth Management LP now owns 523 shares of the financial services provider’s stock valued at $110,000 after buying an additional 88 shares in the last quarter. Bank of Nova Scotia increased its holdings in CME Group by 229.4% in the fourth quarter. Bank of Nova Scotia now owns 292,597 shares of the financial services provider’s stock worth $61,618,000 after buying an additional 203,769 shares during the last quarter. Finally, Oak Harvest Investment Services raised its position in CME Group by 66.5% during the first quarter. Oak Harvest Investment Services now owns 45,093 shares of the financial services provider’s stock valued at $9,708,000 after acquiring an additional 18,017 shares in the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted 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. Keefe, Bruyette & Woods increased their target price on shares of CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Barclays raised their target price on CME Group from $208.00 to $209.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $225.00 price target on shares of CME Group in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. raised their price objective on CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.73.

Insider Transactions at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the 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 completion of the sale, the director now owns 55,607 shares in the company, valued at $11,932,706.13. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

CME Group Price Performance

Shares of NASDAQ:CME opened at $218.53 on Tuesday. The company has a market cap of $78.69 billion, a price-to-earnings ratio of 24.86, a PEG ratio of 8.85 and a beta of 0.55. The business has a 50 day moving average price of $206.16 and a 200 day moving average price of $207.48. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $223.80.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.03. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $2.30 earnings per share. CME Group’s revenue for the quarter was up 12.7% compared to the same quarter last year. Research analysts predict that CME Group Inc. will post 9.94 earnings per share 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 issued a dividend of $1.15 per share. The ex-dividend date is Monday, September 9th. This represents a $4.60 annualized dividend and a dividend yield of 2.10%. CME Group’s payout ratio is 52.33%.

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.