SageView Advisory Group LLC Has $665,000 Stake in CME Group Inc. (NASDAQ:CME)

SageView Advisory Group LLC reduced its holdings in CME Group Inc. (NASDAQ:CME) by 24.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,013 shares of the financial services provider’s stock after selling 964 shares during the period. SageView Advisory Group LLC’s holdings in CME Group were worth $665,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CME. Truvestments Capital LLC acquired a new position in shares of CME Group during the 3rd quarter worth about $26,000. Y.D. More Investments Ltd bought a new position in CME Group during the 2nd quarter worth approximately $36,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 74 shares during the period. McClarren Financial Advisors Inc. increased its stake in CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 78 shares in the last quarter. Finally, Asset Dedication LLC raised its holdings in CME Group by 515.2% in the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 170 shares during the period. 87.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CME has been the subject of several research analyst reports. Piper Sandler boosted their price target on shares of CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Redburn Atlantic cut CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price for the company. in a research note on Tuesday, October 8th. The Goldman Sachs Group raised their price target on CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research report on Thursday, October 3rd. Citigroup boosted their price objective on CME Group from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Bank of America raised their target price on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $224.47.

CME Group Stock Down 2.7 %

CME Group stock opened at $239.38 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $227.46 and its 200-day moving average is $212.77. The firm has a market capitalization of $86.26 billion, a PE ratio of 25.17, a P/E/G ratio of 5.55 and a beta of 0.56. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $249.02.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the company earned $2.25 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that CME Group Inc. will post 10.22 earnings per share for the current year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, December 9th. This represents a $4.60 dividend on an annualized basis and a yield of 1.92%. CME Group’s dividend payout ratio (DPR) is 48.37%.

CME Group declared that its Board of Directors has authorized a stock buyback plan on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at CME Group

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the transaction, the chief financial officer now owns 13,261 shares in the company, valued at $2,877,504.39. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Francis Mccourt sold 1,374 shares of CME Group stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $227.12, for a total transaction of $312,062.88. Following the completion of the sale, the insider now owns 7,275 shares of the company’s stock, valued at approximately $1,652,298. The trade was a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,028 shares of company stock worth $1,811,681 over the last ninety days. Insiders own 0.30% of the company’s stock.

CME Group 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.