Glen Eagle Advisors LLC Sells 149 Shares of CME Group Inc. (NASDAQ:CME)

Glen Eagle Advisors LLC trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 26.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 413 shares of the financial services provider’s stock after selling 149 shares during the period. Glen Eagle Advisors LLC’s holdings in CME Group were worth $91,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in CME Group by 11.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock valued at $1,038,676,000 after purchasing an additional 537,758 shares during the last quarter. Raymond James & Associates increased its stake in shares of CME Group by 3.2% during the second quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider’s stock valued at $595,530,000 after buying an additional 94,302 shares during the period. Legal & General Group Plc raised its holdings in shares of CME Group by 6.6% during the second quarter. Legal & General Group Plc now owns 2,835,075 shares of the financial services provider’s stock valued at $557,371,000 after acquiring an additional 176,004 shares in the last quarter. Janus Henderson Group PLC lifted its stake in CME Group by 17.8% in the third quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock worth $554,707,000 after acquiring an additional 380,071 shares during the period. Finally, PineStone Asset Management Inc. increased its position in CME Group by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,260,644 shares of the financial services provider’s stock valued at $444,443,000 after purchasing an additional 1,309,097 shares during the period. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CME Group

In other news, insider Sunil Cutinho sold 4,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total value of $1,019,880.00. Following the transaction, the insider now owns 27,053 shares in the company, valued at $6,131,291.92. This represents a 14.26 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Lynne Fitzpatrick sold 754 shares of the business’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 transaction of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. This trade represents a 5.38 % 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 quarter. Company insiders own 0.30% of the company’s stock.

CME Group Trading Down 2.7 %

Shares of NASDAQ CME opened at $239.38 on Friday. The company has a market cap of $86.26 billion, a PE ratio of 25.17, a P/E/G ratio of 5.61 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average price is $227.88 and its 200-day moving average price is $212.98. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $249.02.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.03. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.25 EPS. On average, equities research analysts expect that CME Group Inc. will post 10.22 EPS for the current fiscal year.

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

CME Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic lowered shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price on the stock. in a research note on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft reduced their target price on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a report on Monday, November 11th. Oppenheimer raised their target price on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped their price target on CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $224.47.

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.