Burgundy Asset Management Ltd. Sells 20,453 Shares of CME Group Inc. (NASDAQ:CME)

Burgundy Asset Management Ltd. lessened its position in CME Group Inc. (NASDAQ:CME) by 3.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 592,991 shares of the financial services provider’s stock after selling 20,453 shares during the period. CME Group accounts for 1.6% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 23rd biggest position. Burgundy Asset Management Ltd. owned approximately 0.16% of CME Group worth $157,315,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SeaCrest Wealth Management LLC lifted its position in CME Group by 3.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider’s stock valued at $366,000 after acquiring an additional 40 shares during the period. OneAscent Financial Services LLC lifted its position in CME Group by 4.0% during the 1st quarter. OneAscent Financial Services LLC now owns 1,106 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 43 shares during the period. Ballentine Partners LLC lifted its position in CME Group by 0.8% during the 1st quarter. Ballentine Partners LLC now owns 5,828 shares of the financial services provider’s stock valued at $1,546,000 after acquiring an additional 45 shares during the period. Wealthcare Advisory Partners LLC lifted its position in CME Group by 3.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,342 shares of the financial services provider’s stock valued at $356,000 after acquiring an additional 47 shares during the period. Finally, Koshinski Asset Management Inc. lifted its position in CME Group by 1.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 3,522 shares of the financial services provider’s stock valued at $934,000 after acquiring an additional 48 shares during the period. Institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In other news, Director Daniel G. Kaye sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total transaction of $141,210.00. Following the sale, the director owned 3,668 shares of the company’s stock, valued at $1,035,916.56. This trade represents a 12.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Phyllis M. Lockett sold 1,060 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $277.88, for a total transaction of $294,552.80. Following the sale, the director directly owned 3,108 shares in the company, valued at $863,651.04. The trade was a 25.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,450 shares of company stock worth $676,663 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on CME shares. JPMorgan Chase & Co. reduced their price objective on shares of CME Group from $223.00 to $211.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Erste Group Bank lowered shares of CME Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Wall Street Zen lowered shares of CME Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. UBS Group reiterated a “neutral” rating and issued a $305.00 price target on shares of CME Group in a research note on Thursday, July 24th. Finally, Oppenheimer lifted their price target on shares of CME Group from $300.00 to $303.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $261.93.

CME Group Trading Down 0.3%

NASDAQ CME opened at $273.92 on Friday. The company’s 50-day moving average price is $275.52 and its 200-day moving average price is $267.37. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The stock has a market cap of $98.72 billion, a PE ratio of 26.52, a PEG ratio of 4.86 and a beta of 0.44. CME Group Inc. has a 12 month low of $204.16 and a 12 month high of $290.79.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.91 by $0.05. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.56 earnings per share. Equities research analysts forecast that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 1.8%. The ex-dividend date is Tuesday, September 9th. CME Group’s dividend payout ratio is 48.40%.

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.