NewEdge Advisors LLC Sells 13,076 Shares of CME Group Inc. $CME

NewEdge Advisors LLC cut its stake in shares of CME Group Inc. (NASDAQ:CME) by 19.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,241 shares of the financial services provider’s stock after selling 13,076 shares during the period. NewEdge Advisors LLC’s holdings in CME Group were worth $11,978,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System grew its stake in shares of CME Group by 21,954.4% in the second quarter. California State Teachers Retirement System now owns 131,243,023 shares of the financial services provider’s stock valued at $28,982,397,000 after acquiring an additional 130,647,934 shares in the last quarter. BlackRock Inc. acquired a new stake in CME Group in the 2nd quarter worth about $6,749,965,000. State Street Corp raised its stake in CME Group by 0.4% in the 4th quarter. State Street Corp now owns 16,144,525 shares of the financial services provider’s stock worth $4,408,747,000 after purchasing an additional 56,725 shares in the last quarter. Norges Bank bought a new stake in CME Group in the 4th quarter valued at about $1,523,241,000. Finally, Bank of New York Mellon Corp boosted its holdings in CME Group by 2.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider’s stock valued at $1,344,776,000 after purchasing an additional 134,242 shares during the period. Institutional investors own 87.75% of the company’s stock.

Analyst Ratings Changes

CME has been the topic of several recent research reports. Wall Street Zen raised shares of CME Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 29th. Erste Group Bank downgraded CME Group from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Piper Sandler lowered their price objective on CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 15th. Bank of America lifted their price objective on CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 target price for the company in a research report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, CME Group presently has a consensus rating of “Hold” and a consensus target price of $289.75.

Insiders Place Their Bets

In other CME Group news, Director William Shepard acquired 325 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was acquired at an average cost of $230.57 per share, for a total transaction of $74,935.25. Following the transaction, the director directly owned 260,442 shares in the company, valued at $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Terrence Duffy sold 15,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $274.44, for a total value of $4,116,600.00. Following the completion of the sale, the chief executive officer directly owned 40,630 shares in the company, valued at $11,150,497.20. This trade represents a 26.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is currently owned by insiders.

CME Group Stock Performance

Shares of CME Group stock opened at $275.54 on Friday. The company has a 50 day moving average of $263.56 and a 200-day moving average of $277.42. CME Group Inc. has a 1-year low of $218.31 and a 1-year high of $329.16. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market cap of $99.08 billion, a PE ratio of 23.37, a price-to-earnings-growth ratio of 3.24 and a beta of 0.24.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating the consensus estimate of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the business earned $2.96 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities research analysts forecast that CME Group Inc. will post 12.27 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be issued a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.9%. CME Group’s payout ratio is 44.11%.

CME Group Profile

CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for a broad range of financial and commodity products. Its exchange platforms enable participants to manage risk, discover prices and gain exposure to asset classes including interest rates, equity indexes, foreign exchange, energy, metals, agricultural commodities and digital assets.

The company’s principal marketplaces include CME, CBOT, NYMEX and COMEX. Products are offered through futures and options contracts, with electronic trading available through CME Globex as well as exchange-based and privately negotiated transactions.