Summit Trail Advisors LLC Trims Stake in CME Group Inc. (NASDAQ:CME)

Summit Trail Advisors LLC reduced its stake in CME Group Inc. (NASDAQ:CME) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,289 shares of the financial services provider’s stock after selling 87 shares during the period. Summit Trail Advisors LLC’s holdings in CME Group were worth $647,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CME. Bluefin Capital Management LLC bought a new stake in shares of CME Group during the 4th quarter valued at $2,891,000. Alaska Permanent Fund Corp lifted its position in CME Group by 81.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock valued at $9,588,000 after acquiring an additional 19,985 shares during the period. Bank of Nova Scotia boosted its stake in CME Group by 229.4% during the fourth quarter. Bank of Nova Scotia now owns 292,597 shares of the financial services provider’s stock worth $61,618,000 after acquiring an additional 203,769 shares in the last quarter. Oak Harvest Investment Services grew its holdings in CME Group by 66.5% in the first quarter. Oak Harvest Investment Services now owns 45,093 shares of the financial services provider’s stock worth $9,708,000 after purchasing an additional 18,017 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of CME Group by 21.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 48,205 shares of the financial services provider’s stock valued at $9,477,000 after purchasing an additional 8,443 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the transaction, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at approximately $2,877,504.39. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CME Group news, Director Bryan T. Durkin sold 7,593 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The shares were 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 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 is accessible through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares in the company, valued at $2,877,504.39. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

CME Group Stock Down 0.7 %

CME Group stock opened at $213.16 on Monday. CME Group Inc. has a one year low of $190.70 and a one year high of $223.80. The stock has a fifty day moving average of $207.86 and a 200 day moving average of $207.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $76.75 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 8.85 and a beta of 0.55.

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 firm had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.30 EPS. As a group, sell-side analysts predict that CME Group Inc. will post 9.94 EPS for the current year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend 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 presently 52.33%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CME. Deutsche Bank Aktiengesellschaft raised their price objective on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Bank of America cut shares of CME Group from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $212.00 to $177.00 in a research note on Tuesday, September 3rd. Barclays raised 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 note on Thursday, July 25th. 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 research note on Thursday, July 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $225.00 price target on shares of CME Group in a research report on Tuesday, August 20th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus target price of $209.73.

About CME Group

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.