Pinnacle Wealth Planning Services Inc. Acquires New Position in CME Group Inc. $CME

Pinnacle Wealth Planning Services Inc. bought a new position in shares of CME Group Inc. (NASDAQ:CME) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,109 shares of the financial services provider’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CME. Webster Bank N. A. increased its holdings in shares of CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after buying an additional 60 shares during the last quarter. Highline Wealth Partners LLC lifted its holdings in CME Group by 84.3% in the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 43 shares during the last quarter. Ransom Advisory Ltd purchased a new position in CME Group in the first quarter worth approximately $31,000. Trifecta Capital Advisors LLC grew its position in CME Group by 59.2% in the second quarter. Trifecta Capital Advisors LLC now owns 113 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 42 shares during the period. Finally, Westside Investment Management Inc. increased its stake in CME Group by 105.0% during the second quarter. Westside Investment Management Inc. now owns 123 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 63 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William R. Shepard bought 262 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The stock was purchased at an average cost of $265.19 per share, for a total transaction of $69,479.78. Following the completion of the acquisition, the director owned 258,459 shares in the company, valued at approximately $68,540,742.21. This trade represents a 0.10% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harold Eugene Jr. Ford sold 1,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $263.53, for a total value of $263,530.00. Following the sale, the director owned 1,091 shares in the company, valued at approximately $287,511.23. This trade represents a 47.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 14,043 shares of company stock valued at $3,791,486. 0.30% of the stock is owned by company insiders.

CME Group Stock Down 2.4%

Shares of NASDAQ:CME opened at $272.49 on Thursday. The firm has a market capitalization of $98.26 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 4.41 and a beta of 0.38. CME Group Inc. has a 1 year low of $224.62 and a 1 year high of $290.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50-day moving average is $268.27 and its two-hundred day moving average is $272.82.

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

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Friday, December 12th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group’s dividend payout ratio is currently 48.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CME shares. Keefe, Bruyette & Woods upped their price target on CME Group from $283.00 to $287.00 and gave the company a “market perform” rating in a research note on Monday, October 13th. Jefferies Financial Group decreased their target price on shares of CME Group from $313.00 to $304.00 and set a “buy” rating on the stock in a research report on Friday, October 10th. Raymond James Financial lowered their target price on shares of CME Group from $309.00 to $307.00 and set an “outperform” rating for the company in a research note on Monday, October 13th. Piper Sandler boosted their price target on shares of CME Group from $296.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Finally, Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $275.00 to $300.00 in a research report on Thursday, September 25th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, CME Group has an average rating of “Hold” and a consensus target price of $287.65.

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.