Spinnaker Investment Group LLC reduced its stake in shares of CME Group Inc. (NASDAQ:CME – Get Rating) by 11.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,570 shares of the financial services provider's stock after selling 200 shares during the quarter. Spinnaker Investment Group LLC's holdings in CME Group were worth $321,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Money Concepts Capital Corp increased its stake in CME Group by 74.4% during the second quarter. Money Concepts Capital Corp now owns 565 shares of the financial services provider's stock worth $115,000 after acquiring an additional 241 shares during the last quarter. Oak Harvest Investment Services boosted its position in shares of CME Group by 11.0% during the second quarter. Oak Harvest Investment Services now owns 27,889 shares of the financial services provider's stock valued at $5,709,000 after buying an additional 2,763 shares during the period. Equitable Trust Co. purchased a new position in shares of CME Group during the second quarter valued at approximately $826,000. NorthCrest Asset Manangement LLC purchased a new position in shares of CME Group during the second quarter valued at approximately $1,780,000. Finally, Veriti Management LLC boosted its position in shares of CME Group by 3.9% during the second quarter. Veriti Management LLC now owns 6,183 shares of the financial services provider's stock valued at $1,266,000 after buying an additional 230 shares during the period. 85.56% of the stock is owned by institutional investors.
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CME Group Stock Down 0.6 %
CME Group stock traded down $1.10 during mid-day trading on Monday, reaching $179.98. 1,195,945 shares of the company were exchanged, compared to its average volume of 1,580,555. The business has a fifty day moving average of $198.09 and a 200 day moving average of $209.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $64.69 billion, a P/E ratio of 22.47, a PEG ratio of 2.92 and a beta of 0.40. CME Group Inc. has a 12-month low of $177.87 and a 12-month high of $256.94.
CME Group (NASDAQ:CME – Get Rating) last posted its earnings results on Wednesday, July 27th. The financial services provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.05. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. CME Group had a return on equity of 9.65% and a net
margin of 60.43%. CME Group's revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 earnings per share. Research analysts anticipate that CME Group Inc. will post 7.96 earnings per share for the current fiscal year.
CME Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Stockholders of record on Friday, September 9th will be given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 8th. CME Group's payout ratio is presently 49.63%.
Insider Transactions at CME Group
In other news, insider Hilda Harris Piell sold 4,901 shares of the company's stock in a transaction on Monday, August 15th. The stock was sold at an average price of $203.88, for a total transaction of $999,215.88. Following the transaction, the insider now directly owns 33,140 shares of the company's stock, valued at $6,756,583.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Timothy Francis Mccourt sold 360 shares of the company's stock in a transaction on Monday, September 19th. The stock was sold at an average price of $190.77, for a total value of $68,677.20. Following the transaction, the insider now directly owns 5,431 shares of the company's stock, valued at approximately $1,036,071.87. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hilda Harris Piell sold 4,901 shares of the company's stock in a transaction on Monday, August 15th. The shares were sold at an average price of $203.88, for a total value of $999,215.88. Following the completion of the transaction, the insider now directly owns 33,140 shares in the company, valued at $6,756,583.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,511 shares of company stock valued at $2,123,186. Corporate insiders own 0.30% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Atlantic Securities upgraded CME Group from a "neutral" rating to an "overweight" rating and set a $235.00 target price for the company in a research report on Friday, June 10th. Deutsche Bank Aktiengesellschaft boosted their target price on CME Group from $208.00 to $212.00 and gave the company a "hold" rating in a research report on Friday, August 12th. UBS Group dropped their target price on CME Group from $246.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday, August 2nd. Morgan Stanley lowered their price target on CME Group from $242.00 to $226.00 and set an "equal weight" rating for the company in a report on Thursday, July 28th. Finally, Raymond James lowered CME Group from an "outperform" rating to a "market perform" rating in a report on Monday, August 15th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $230.80.
CME Group Company Profile
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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 products.
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