Twin Capital Management Inc. Sells 1,883 Shares of CME Group Inc. (NASDAQ:CME)

Twin Capital Management Inc. lessened its stake in shares of CME Group Inc. (NASDAQ:CME) by 13.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,751 shares of the financial services provider’s stock after selling 1,883 shares during the quarter. Twin Capital Management Inc.’s holdings in CME Group were worth $3,117,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CME. Wayfinding Financial LLC purchased a new position in shares of CME Group during the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of CME Group by 50.0% during the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 98 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in CME Group in the first quarter valued at about $32,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CME. Morgan Stanley increased their target price on CME Group from $301.00 to $304.00 and gave the stock an “overweight” rating in a research report on Thursday, April 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $269.00 target price on shares of CME Group in a research note on Thursday, April 3rd. Wall Street Zen downgraded shares of CME Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Citigroup boosted their price objective on CME Group from $265.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, July 3rd. Finally, Bank of America lifted their target price on CME Group from $200.00 to $219.00 and gave the company an “underperform” rating in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $261.80.

CME Group Price Performance

NASDAQ:CME opened at $274.70 on Friday. CME Group Inc. has a one year low of $193.25 and a one year high of $290.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $98.99 billion, a PE ratio of 27.64, a P/E/G ratio of 4.81 and a beta of 0.44. The stock has a 50 day moving average price of $275.89 and a 200 day moving average price of $260.85.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.19. The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.56 billion. CME Group had a return on equity of 14.03% and a net margin of 57.71%. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. Equities research analysts expect that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 9th were issued a $1.25 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.82%. CME Group’s dividend payout ratio (DPR) is presently 50.30%.

Insider Buying and Selling

In other news, General Counsel Jonathan L. Marcus sold 390 shares of the stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $277.50, for a total value of $108,225.00. Following the transaction, the general counsel owned 6,708 shares in the company, valued at approximately $1,861,470. This represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William R. Shepard bought 256 shares of the business’s stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average price of $270.53 per share, for a total transaction of $69,255.68. Following the transaction, the director directly owned 258,196 shares of the company’s stock, valued at approximately $69,849,763.88. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders sold 13,400 shares of company stock valued at $3,680,610 over the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

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.