Avidian Wealth Enterprises LLC Cuts Stake in CME Group Inc. (NASDAQ:CME)

Avidian Wealth Enterprises LLC decreased its stake in CME Group Inc. (NASDAQ:CME) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,724 shares of the financial services provider’s stock after selling 134 shares during the period. Avidian Wealth Enterprises LLC’s holdings in CME Group were worth $380,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake 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 acquiring an additional 8,443 shares in the last quarter. Duality Advisers LP purchased a new stake in CME Group during the 1st quarter worth approximately $1,455,000. SG Americas Securities LLC raised its position in shares of CME Group by 312.2% in the 1st quarter. SG Americas Securities LLC now owns 56,768 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 42,996 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of CME Group by 429.1% during the 1st quarter. Cetera Investment Advisers now owns 47,521 shares of the financial services provider’s stock valued at $10,231,000 after buying an additional 38,540 shares during the last quarter. Finally, Brookstone Capital Management grew its position in shares of CME Group by 12.2% during the second quarter. Brookstone Capital Management now owns 30,555 shares of the financial services provider’s stock worth $6,156,000 after buying an additional 3,325 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CME shares. Barclays upped their price target on shares of CME Group from $219.00 to $231.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their price target on shares of CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. upped their price objective on CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their target price on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price target on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, CME Group presently has a consensus rating of “Hold” and a consensus price target of $222.73.

CME Group Price Performance

Shares of NASDAQ:CME opened at $222.04 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $221.36 and its two-hundred day moving average is $209.75. The firm has a market capitalization of $79.96 billion, a P/E ratio of 23.40, a PEG ratio of 5.61 and a beta of 0.55. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $230.36.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the business earned $2.25 EPS. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. Analysts anticipate that CME Group Inc. will post 10.23 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.07%. CME Group’s payout ratio is 48.37%.

Insiders Place Their Bets

In related news, Director Timothy S. Bitsberger sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total transaction of $226,960.00. Following the transaction, the director now owns 10,589 shares in the company, valued at $2,403,279.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Timothy S. Bitsberger sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total transaction of $226,960.00. Following the completion of the transaction, the director now owns 10,589 shares in the company, valued at approximately $2,403,279.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Martin J. Gepsman sold 400 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the sale, the director now owns 25,067 shares in the company, valued at $5,587,935.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,621 shares of company stock worth $3,441,063. 0.30% of the stock is owned by corporate 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.