CME Group (NASDAQ:CME) Sets New 1-Year High After Earnings Beat

CME Group Inc. (NASDAQ:CME) shares reached a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $230.30 and last traded at $229.41, with a volume of 298100 shares changing hands. The stock had previously closed at $227.14.

The financial services provider reported $2.68 EPS for the quarter, beating the consensus estimate of $2.65 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business earned $2.25 earnings per share. The company’s quarterly revenue was up 18.4% on a year-over-year basis.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a $1.15 dividend. The ex-dividend date was Monday, September 9th. This represents a $4.60 annualized dividend and a yield of 2.01%. CME Group’s payout ratio is currently 52.33%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays increased their price target on shares of CME Group from $219.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and set a $235.00 price target on shares of CME Group in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Finally, Morgan Stanley raised their price target on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $222.07.

Insiders Place Their Bets

In other news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction dated Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the sale, the director now directly owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the company’s stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On CME Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brookstone Capital Management raised its stake in CME Group by 3.4% during the first quarter. Brookstone Capital Management now owns 27,230 shares of the financial services provider’s stock worth $5,862,000 after buying an additional 903 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in CME Group by 224.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 4,531 shares of the financial services provider’s stock worth $976,000 after purchasing an additional 3,135 shares in the last quarter. Artemis Investment Management LLP lifted its stake in CME Group by 32.6% in the first quarter. Artemis Investment Management LLP now owns 55,342 shares of the financial services provider’s stock valued at $11,908,000 after buying an additional 13,598 shares during the period. Trifecta Capital Advisors LLC lifted its position in shares of CME Group by 2.6% during the 1st quarter. Trifecta Capital Advisors LLC now owns 6,175 shares of the financial services provider’s stock valued at $1,329,000 after acquiring an additional 159 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in CME Group by 83.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 7,630 shares of the financial services provider’s stock valued at $1,643,000 after purchasing an additional 3,461 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

CME Group Stock Performance

The company has a market capitalization of $82.60 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 7.76 and a beta of 0.55. The company has a 50 day moving average price of $218.08 and a 200 day moving average price of $208.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

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.