Intech Investment Management LLC Sells 1,688 Shares of CME Group Inc. (NASDAQ:CME)

Intech Investment Management LLC trimmed its holdings in CME Group Inc. (NASDAQ:CME) by 9.8% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,616 shares of the financial services provider’s stock after selling 1,688 shares during the quarter. Intech Investment Management LLC’s holdings in CME Group were worth $3,070,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gold Investment Management Ltd. bought a new stake in shares of CME Group in the fourth quarter worth approximately $26,000. Salomon & Ludwin LLC purchased a new position in shares of CME Group in the 1st quarter worth $28,000. Y.D. More Investments Ltd bought a new stake in shares of CME Group in the second quarter worth $36,000. McClarren Financial Advisors Inc. increased its position in CME Group by 66.1% during the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 78 shares during the last quarter. Finally, Asset Dedication LLC lifted its holdings in CME Group by 515.2% in the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 170 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Transactions at CME Group

In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the transaction, the chief financial officer now owns 13,261 shares of the company’s stock, valued at approximately $2,877,504.39. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

CME Group Stock Performance

Shares of NASDAQ:CME opened at $213.16 on Monday. The firm has a fifty day simple moving average of $207.86 and a two-hundred day simple moving average of $207.36. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $76.75 billion, a P/E ratio of 24.25, a PEG ratio of 8.85 and a beta of 0.55. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $223.80.

CME Group (NASDAQ:CME) last issued its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.03. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.30 earnings per share. On average, analysts expect that CME Group Inc. will post 9.94 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date is Monday, September 9th. CME Group’s dividend payout ratio (DPR) is 52.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CME shares. Deutsche Bank Aktiengesellschaft boosted their price target on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Barclays upped their price objective on CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Bank of America cut CME Group from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $212.00 to $177.00 in a research report on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and set a $225.00 target price on shares of CME Group in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $209.73.

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.