Summit Wealth & Retirement Planning Inc. Purchases New Position in CME Group Inc. $CME

Summit Wealth & Retirement Planning Inc. acquired a new position in CME Group Inc. (NASDAQ:CME) during the second quarter, Holdings Channel reports. The institutional investor acquired 1,637 shares of the financial services provider’s stock, valued at approximately $451,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC boosted its holdings in CME Group by 7,676.3% in the first quarter. GQG Partners LLC now owns 2,205,041 shares of the financial services provider’s stock worth $584,975,000 after purchasing an additional 2,176,685 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CME Group by 370.5% in the first quarter. Wellington Management Group LLP now owns 2,653,957 shares of the financial services provider’s stock worth $704,068,000 after buying an additional 2,089,935 shares during the last quarter. Nuveen LLC bought a new stake in shares of CME Group during the 1st quarter worth about $218,842,000. Alliancebernstein L.P. boosted its stake in shares of CME Group by 185.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,244,608 shares of the financial services provider’s stock worth $330,182,000 after acquiring an additional 808,740 shares in the last quarter. Finally, Egerton Capital UK LLP increased its holdings in shares of CME Group by 79.4% during the 1st quarter. Egerton Capital UK LLP now owns 1,730,194 shares of the financial services provider’s stock valued at $459,003,000 after acquiring an additional 765,773 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on CME. Barclays decreased their target price on CME Group from $298.00 to $280.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Rothschild & Co Redburn boosted their price objective on shares of CME Group from $297.00 to $300.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group decreased their price objective on shares of CME Group from $285.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Piper Sandler lifted their target price on shares of CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Finally, Raymond James Financial cut their target price on shares of CME Group from $309.00 to $307.00 and set an “outperform” rating for the company in a research report on Monday, October 13th. Eight research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $286.06.

Insider Activity at CME Group

In other news, Director Harold Eugene Jr. Ford sold 1,000 shares of CME Group stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $263.53, for a total transaction of $263,530.00. Following the sale, the director owned 1,091 shares of the company’s stock, valued at approximately $287,511.23. This trade represents a 47.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Timothy Francis Mccourt sold 379 shares of the company’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the completion of the transaction, the insider owned 9,508 shares of the company’s stock, valued at $2,470,463.64. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 14,043 shares of company stock worth $3,791,486 in the last three months. Company insiders own 0.30% of the company’s stock.

CME Group Price Performance

Shares of CME Group stock opened at $276.50 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $99.71 billion, a PE ratio of 26.79, a price-to-earnings-growth ratio of 4.41 and a beta of 0.38. The firm has a fifty day moving average price of $265.86 and a two-hundred day moving average price of $272.29. CME Group Inc. has a fifty-two week low of $222.56 and a fifty-two week high of $290.79.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.05. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the firm posted $2.68 EPS. The business’s revenue was down 3.0% compared to the same quarter last year. Analysts expect that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Friday, December 12th will be given a $1.25 dividend. The ex-dividend date is Friday, December 12th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group’s dividend payout ratio (DPR) is currently 48.45%.

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.