MAI Capital Management Trims Holdings in CME Group Inc. (NASDAQ:CME)

MAI Capital Management lessened its position in CME Group Inc. (NASDAQ:CME) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,516 shares of the financial services provider’s stock after selling 992 shares during the quarter. MAI Capital Management’s holdings in CME Group were worth $11,367,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Y.D. More Investments Ltd purchased a new stake in shares of CME Group during the second quarter worth $36,000. McClarren Financial Advisors Inc. raised 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 buying an additional 78 shares in the last quarter. Asset Dedication LLC lifted its holdings in CME Group by 515.2% during the 2nd quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after buying an additional 170 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of CME Group by 62.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 74 shares in the last quarter. Finally, Bank & Trust Co purchased a new position in shares of CME Group in the 2nd quarter valued at about $76,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price target on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. 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 report on Tuesday, October 8th. 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, October 24th. TD Cowen initiated coverage on CME Group in a research note on Thursday, September 26th. They set a “hold” rating and a $221.00 price objective for the company. Finally, Piper Sandler increased their price objective on CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $224.47.

CME Group Price Performance

CME Group stock opened at $227.56 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a one year low of $190.70 and a one year high of $230.36. The company has a market cap of $82.00 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 5.20 and a beta of 0.55. The business has a fifty day moving average of $222.80 and a two-hundred day moving average of $210.53.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, October 23rd. 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 57.34% and a return on equity of 13.39%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the business earned $2.25 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, analysts predict that CME Group Inc. will post 10.22 earnings per share for the current fiscal year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, December 9th. CME Group’s dividend payout ratio is currently 48.37%.

Insider Activity at CME Group

In other news, CFO Lynne Fitzpatrick sold 754 shares of the company’s stock in a transaction on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy Francis Mccourt sold 1,374 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $227.12, for a total value of $312,062.88. Following the sale, the insider now directly owns 7,275 shares in the company, valued at approximately $1,652,298. The trade was a 15.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,621 shares of company stock valued at $3,441,063 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

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.