Concurrent Investment Advisors LLC Grows Stock Position in CME Group Inc. $CME

Concurrent Investment Advisors LLC lifted its stake in shares of CME Group Inc. (NASDAQ:CME) by 132.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,626 shares of the financial services provider’s stock after purchasing an additional 7,198 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in CME Group were worth $3,480,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Johnson Investment Counsel Inc. purchased a new stake in shares of CME Group during the second quarter worth approximately $289,000. waypoint wealth counsel raised its stake in shares of CME Group by 8.3% during the second quarter. waypoint wealth counsel now owns 930 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 71 shares during the last quarter. Apollon Wealth Management LLC raised its position in CME Group by 7.7% in the second quarter. Apollon Wealth Management LLC now owns 13,295 shares of the financial services provider’s stock worth $3,664,000 after acquiring an additional 949 shares in the last quarter. Natural Investments LLC raised its position in CME Group by 29.8% in the second quarter. Natural Investments LLC now owns 1,315 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 302 shares in the last quarter. Finally, Louisbourg Investments Inc. purchased a new position in CME Group in the second quarter worth $141,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Activity

In other news, Director William R. Shepard purchased 262 shares of the firm’s stock in a transaction on Thursday, September 25th. The shares were bought at an average cost of $265.19 per share, with a total value of $69,479.78. Following the purchase, the director directly owned 258,459 shares of the company’s stock, valued at approximately $68,540,742.21. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan L. Marcus sold 392 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the sale, the general counsel directly owned 7,851 shares in the company, valued at $2,056,962. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,043 shares of company stock valued at $3,527,956 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on CME Group from $303.00 to $312.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Barclays cut their price objective on CME Group from $298.00 to $280.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut their price objective on CME Group from $276.00 to $266.00 and set a “hold” rating for the company in a research report on Thursday, October 9th. Raymond James Financial cut their price objective on CME Group from $309.00 to $307.00 and set an “outperform” rating for the company in a research report on Monday. Finally, Wall Street Zen cut CME Group from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $283.43.

CME Group Trading Down 0.1%

Shares of CME stock opened at $271.28 on Tuesday. CME Group Inc. has a fifty-two week low of $213.94 and a fifty-two week high of $290.79. The stock has a market cap of $97.76 billion, a P/E ratio of 26.26, a P/E/G ratio of 5.72 and a beta of 0.41. The business has a fifty day simple moving average of $268.57 and a 200-day simple moving average of $271.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

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

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 9th were paid a $1.25 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $5.00 annualized dividend and a yield of 1.8%. CME Group’s payout ratio is presently 48.40%.

CME Group Company Profile

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.