Manitou Investment Management Ltd. Has $1.12 Million Stock Position in CME Group Inc. $CME

Manitou Investment Management Ltd. lowered its holdings in shares of CME Group Inc. (NASDAQ:CME) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,048 shares of the financial services provider’s stock after selling 50 shares during the period. CME Group makes up about 0.2% of Manitou Investment Management Ltd.’s holdings, making the stock its 18th biggest position. Manitou Investment Management Ltd.’s holdings in CME Group were worth $1,116,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in CME Group in the first quarter worth approximately $25,000. Webster Bank N. A. boosted its holdings in CME Group by 206.9% in the second quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 60 shares in the last quarter. Cornerstone Planning Group LLC boosted its holdings in CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Highline Wealth Partners LLC boosted its holdings in CME Group by 84.3% in the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 43 shares in the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in CME Group by 612.5% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Performance

Shares of CME Group stock opened at $271.45 on Friday. The company has a market cap of $97.83 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 5.72 and a beta of 0.41. CME Group Inc. has a 52 week low of $213.94 and a 52 week high of $290.79. The business has a 50 day moving average price of $268.89 and a 200-day moving average price of $271.22. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

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

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 9th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group’s dividend payout ratio (DPR) is presently 48.40%.

Analyst Upgrades and Downgrades

CME has been the topic of several recent research reports. Morgan Stanley increased their price target on CME Group from $303.00 to $312.00 and gave the stock an “overweight” rating in a report on Wednesday, October 1st. Jefferies Financial Group cut their price target on CME Group from $313.00 to $304.00 and set a “buy” rating on the stock in a report on Friday. Wall Street Zen lowered CME Group from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. Citigroup raised CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $275.00 to $300.00 in a research note on Thursday, September 25th. Finally, Piper Sandler increased their price objective on CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, CME Group presently has a consensus rating of “Hold” and a consensus target price of $281.00.

Insiders Place Their Bets

In related news, insider Sunil Cutinho sold 11,896 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the completion of the sale, the insider directly owned 17,440 shares of the company’s stock, valued at approximately $4,734,436.80. This trade represents a 40.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Jonathan L. Marcus sold 392 shares of the stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $262.00, for a total value of $102,704.00. Following the sale, the general counsel directly owned 7,851 shares of the company’s stock, valued at $2,056,962. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,043 shares of company stock valued at $3,527,956. Insiders own 0.30% of the company’s stock.

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.