Burgundy Asset Management Ltd. Has $161.72 Million Holdings in CME Group Inc. $CME

Burgundy Asset Management Ltd. decreased its position in shares of CME Group Inc. (NASDAQ:CME) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 586,764 shares of the financial services provider’s stock after selling 6,227 shares during the quarter. CME Group accounts for approximately 1.6% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its 23rd largest position. Burgundy Asset Management Ltd. owned 0.16% of CME Group worth $161,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CME. Federated Hermes Inc. lifted its holdings in shares of CME Group by 1,325.2% during the 2nd quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock worth $6,497,000 after acquiring an additional 21,918 shares during the period. Gamco Investors INC. ET AL acquired a new position in CME Group during the second quarter valued at approximately $1,941,000. Cary Street Partners Investment Advisory LLC lifted its stake in CME Group by 24.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 232 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 46 shares during the last quarter. Victory Financial Group LLC boosted its holdings in shares of CME Group by 310.2% in the 2nd quarter. Victory Financial Group LLC now owns 3,044 shares of the financial services provider’s stock valued at $839,000 after purchasing an additional 2,302 shares in the last quarter. Finally, Quantum Portfolio Management LLC bought a new position in shares of CME Group in the 2nd quarter valued at $361,000. 87.75% of the stock is owned by institutional investors.

CME Group Stock Down 0.8%

Shares of NASDAQ CME opened at $270.87 on Friday. The company has a 50 day simple moving average of $271.57 and a 200 day simple moving average of $272.76. The firm has a market cap of $97.68 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 4.22 and a beta of 0.28. CME Group Inc. has a 1 year low of $224.62 and a 1 year high of $290.79. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

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

CME Group Dividend Announcement

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

Insider Buying and Selling

In other news, Director Harold Eugene Jr. Ford sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $263.53, for a total transaction of $263,530.00. Following the completion of the transaction, the director directly owned 1,091 shares in the company, valued at $287,511.23. This trade represents a 47.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Jonathan L. Marcus sold 392 shares of CME Group stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total value of $102,704.00. Following the completion of the transaction, the general counsel directly owned 7,851 shares in the company, valued at approximately $2,056,962. This represents a 4.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,147 shares of company stock valued at $562,079 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Argus dropped their price objective on CME Group from $308.00 to $295.00 in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft boosted their target price on CME Group from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, November 14th. UBS Group reduced their price target on shares of CME Group from $285.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Royal Bank Of Canada upped their price objective on shares of CME Group from $282.00 to $295.00 and gave the stock a “sector perform” rating in a research report on Friday. Finally, Morgan Stanley increased their price objective on shares of CME Group from $312.00 to $314.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $289.18.

CME Group Company 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.