NewEdge Advisors LLC Has $11.98 Million Stake in CME Group Inc. $CME

NewEdge Advisors LLC lowered its position in shares of CME Group Inc. (NASDAQ:CME) by 19.4% during the second quarter, HoldingsChannel reports. The fund owned 54,241 shares of the financial services provider’s stock after selling 13,076 shares during the quarter. NewEdge Advisors LLC’s holdings in CME Group were worth $11,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CME. Bridgewater Advisors Inc. acquired a new position in shares of CME Group during the second quarter worth $612,000. The Manufacturers Life Insurance Company acquired a new stake in CME Group in the second quarter valued at $53,671,000. FLC Capital Advisors acquired a new stake in CME Group in the fourth quarter valued at $2,122,000. Haverford Trust Co bought a new position in CME Group during the 2nd quarter worth $13,818,000. Finally, Bowie Capital Management LLC bought a new position in CME Group during the 2nd quarter worth $22,991,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the topic of several recent research reports. Raymond James Financial reaffirmed an “outperform” rating and set a $320.00 target price on shares of CME Group in a report on Thursday, July 2nd. UBS Group lowered their price objective on CME Group from $310.00 to $260.00 and set a “buy” rating for the company in a research report on Monday, July 6th. Piper Sandler cut their price objective on CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Barclays cut their price objective on CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen raised shares of CME Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 29th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, CME Group has a consensus rating of “Hold” and an average target price of $289.75.

Insider Activity at CME Group

In related news, CEO Terrence Duffy sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $274.44, for a total transaction of $4,116,600.00. Following the completion of the sale, the chief executive officer owned 40,630 shares of the company’s stock, valued at $11,150,497.20. This trade represents a 26.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Shepard bought 325 shares of the stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $230.57 per share, with a total value of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares of the company’s stock, valued at $60,050,111.94. This represents a 0.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

CME Group Price Performance

CME stock opened at $275.54 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market cap of $99.08 billion, a price-to-earnings ratio of 23.37, a PEG ratio of 3.24 and a beta of 0.24. The company’s fifty day simple moving average is $263.56 and its 200 day simple moving average is $277.42. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the business posted $2.96 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, analysts expect that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a dividend of $1.30 per share. The ex-dividend date is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. CME Group’s dividend payout ratio is presently 44.11%.

CME Group Profile

CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for a broad range of financial and commodity products. Its exchange platforms enable participants to manage risk, discover prices and gain exposure to asset classes including interest rates, equity indexes, foreign exchange, energy, metals, agricultural commodities and digital assets.

The company’s principal marketplaces include CME, CBOT, NYMEX and COMEX. Products are offered through futures and options contracts, with electronic trading available through CME Globex as well as exchange-based and privately negotiated transactions.