Kiely Wealth Advisory Group Inc. Trims Stock Position in CME Group Inc. (NASDAQ:CME)

Kiely Wealth Advisory Group Inc. trimmed its stake in CME Group Inc. (NASDAQ:CME) by 6.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,400 shares of the financial services provider’s stock after selling 100 shares during the period. Kiely Wealth Advisory Group Inc.’s holdings in CME Group were worth $287,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CME. Aveo Capital Partners LLC purchased a new stake in CME Group in the fourth quarter valued at approximately $226,000. 9258 Wealth Management LLC raised its position in CME Group by 3.7% in the 4th quarter. 9258 Wealth Management LLC now owns 3,148 shares of the financial services provider’s stock valued at $663,000 after purchasing an additional 113 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in CME Group during the 4th quarter worth $547,000. Corient Private Wealth LLC boosted its stake in CME Group by 19.4% during the 4th quarter. Corient Private Wealth LLC now owns 105,426 shares of the financial services provider’s stock worth $22,203,000 after purchasing an additional 17,115 shares during the period. Finally, Assetmark Inc. grew its position in CME Group by 16.9% during the 4th quarter. Assetmark Inc. now owns 15,059 shares of the financial services provider’s stock worth $3,172,000 after purchasing an additional 2,180 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CME has been the subject of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods increased their price objective on CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Piper Sandler restated an “overweight” rating and set a $225.00 price target on shares of CME Group in a research note on Tuesday, August 20th. Finally, Barclays lifted their price objective on shares of CME Group from $208.00 to $209.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $209.73.

CME Group Price Performance

CME Group stock opened at $213.16 on Friday. The company has a market cap of $76.75 billion, a P/E ratio of 24.25, a price-to-earnings-growth ratio of 8.85 and a beta of 0.55. CME Group Inc. has a one year low of $190.70 and a one year high of $223.80. The business has a fifty day moving average of $207.86 and a two-hundred day moving average of $207.53. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the business earned $2.30 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, analysts predict that CME Group Inc. will post 9.94 earnings per share for the current fiscal year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors 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 of this dividend is Monday, September 9th. CME Group’s dividend payout ratio is currently 52.33%.

Insider Activity at CME Group

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

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.