iA Global Asset Management Inc. Sells 22,333 Shares of CME Group Inc. $CME

iA Global Asset Management Inc. cut its position in CME Group Inc. (NASDAQ:CME) by 22.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,258 shares of the financial services provider’s stock after selling 22,333 shares during the quarter. iA Global Asset Management Inc.’s holdings in CME Group were worth $22,227,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Asset Dedication LLC grew its holdings in CME Group by 64.9% in the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of CME Group during the fourth quarter worth $27,000. Elkhorn Partners Limited Partnership purchased a new stake in shares of CME Group during the 4th quarter valued at $27,000. Hilton Head Capital Partners LLC purchased a new stake in shares of CME Group during the 4th quarter valued at $28,000. Finally, Legacy Wealth Managment LLC ID boosted its position in shares of CME Group by 191.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 71 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Insider Activity at CME Group

In related news, CEO Terrence A. Duffy sold 35,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $298.51, for a total value of $10,447,850.00. Following the transaction, the chief executive officer owned 55,630 shares in the company, valued at approximately $16,606,111.30. This represents a 38.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William R. Shepard purchased 325 shares of CME Group stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of the transaction, the director directly owned 260,442 shares in the company, valued at $60,050,111.94. The trade was a 0.12% increase in their position. The SEC filing for this purchase provides additional information. 0.30% of the stock is owned by insiders.

CME Group Stock Performance

Shares of CME stock opened at $220.83 on Wednesday. The business has a fifty day moving average of $270.24 and a 200 day moving average of $285.17. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $80.02 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.44 and a beta of 0.21.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.25. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.80 EPS. As a group, research analysts expect that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 9th were given a $1.30 dividend. The ex-dividend date was Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a yield of 2.4%. CME Group’s dividend payout ratio is currently 44.37%.

Wall Street Analyst Weigh In

CME has been the topic of several research analyst reports. UBS Group restated an “overweight” rating on shares of CME Group in a research note on Monday, June 15th. Wall Street Zen raised CME Group from a “sell” rating to a “hold” rating in a report on Saturday, June 13th. Keefe, Bruyette & Woods upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, June 18th. TD Cowen cut their price objective on shares of CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Finally, Rothschild & Co Redburn raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $316.00 to $323.00 in a research report on Thursday, June 11th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.94.

CME Group News Roundup

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: Director William Shepard bought 325 shares of CME at $230.57, a small insider purchase that can signal confidence in the stock’s longer-term outlook. Insider Buying: CME Group (NASDAQ:CME) Director Purchases 325 Shares
• Positive Sentiment: A recent article highlighted CME as one of several oversold stocks, which may suggest the pullback has pushed the shares into technically attractive territory for some investors. CME Group (CME): 11 Oversold Tech Stocks to Buy Now
• Neutral Sentiment: Analysts expect CME’s next quarterly earnings report to show only low single-digit profit growth, implying steady but not especially strong near-term fundamentals. What to Expect From CME Group’s Next Quarterly Earnings Report
• Neutral Sentiment: A Seeking Alpha note said CME’s recent pullback does not change its hold-style view, suggesting some analysts see the decline as valuation-driven rather than a major change in business fundamentals. CME Group’s Pullback Does Not Change The Rating
• Negative Sentiment: Goldman Sachs lowered its price target on CME and maintained a sell rating, reinforcing a cautious outlook from at least one major Wall Street firm. Goldman Sachs adjusts price target on CME Group
• Negative Sentiment: A market recap said CME was among the financial sector’s losers in the quarter, adding to the tone of recent weakness in the shares. Financial sector climbs in Q2 as Robinhood leads gainers, CME heads losers

About CME Group

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.