Harbor Capital Advisors Inc. cut its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 12.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,986 shares of the financial services provider’s stock after selling 1,027 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in CME Group were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of the business. New Age Alpha Advisors LLC lifted its stake in CME Group by 50.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 43 shares during the period. Knuff & Co LLC purchased a new position in shares of CME Group during the fourth quarter valued at approximately $33,000. Banque Transatlantique SA bought a new position in CME Group during the fourth quarter valued at approximately $35,000. Whipplewood Advisors LLC bought a new position in CME Group during the fourth quarter valued at approximately $37,000. Finally, United Community Bank purchased a new stake in CME Group in the fourth quarter worth approximately $37,000. 87.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of CME Group from $282.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, June 4th. Keefe, Bruyette & Woods lifted their price objective on CME Group from $265.00 to $273.00 and gave the stock a “market perform” rating in a report on Thursday, April 24th. Piper Sandler upped their price objective on CME Group from $275.00 to $283.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Raymond James raised CME Group from a “market perform” rating to an “outperform” rating and set a $287.00 target price on the stock in a report on Monday, March 10th. Finally, Bank of America boosted their price target on CME Group from $200.00 to $219.00 and gave the company an “underperform” rating in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, CME Group has an average rating of “Hold” and a consensus price target of $258.20.
Insider Buying and Selling
In other news, Director Dennis Suskind sold 1,000 shares of the business’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $271.28, for a total value of $271,280.00. Following the transaction, the director now owns 2,915 shares of the company’s stock, valued at approximately $790,781.20. The trade was a 25.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Larry G. Gerdes sold 2,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $264.10, for a total transaction of $528,200.00. Following the transaction, the director now directly owns 38,651 shares of the company’s stock, valued at $10,207,729.10. The trade was a 4.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,400 shares of company stock valued at $3,680,610. Company insiders own 0.30% of the company’s stock.
CME Group Stock Up 1.3%
NASDAQ CME opened at $269.65 on Thursday. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $290.79. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $97.17 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 6.76 and a beta of 0.45. The stock’s 50-day moving average price is $272.07 and its 200-day moving average price is $253.75.
CME Group (NASDAQ:CME – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.19. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.56 billion. CME Group had a net margin of 57.52% and a return on equity of 13.62%. The company’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 earnings per share. On average, equities research analysts predict that CME Group Inc. will post 10.49 earnings per share for the current year.
CME Group Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 9th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Monday, June 9th. CME Group’s dividend payout ratio (DPR) is 50.30%.
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.
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