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Viking Fund Management LLC Sells 2,000 Shares of CME Group Inc. (NASDAQ:CME)

Financial News Live · Sep 25, 2022 10:42

Viking Fund Management LLC trimmed its position in CME Group Inc. (NASDAQ:CME – Get Rating) by 16.7% during the second quarter, HoldingsChannel.com reports. The fund owned 10,000 shares of the financial services provider's stock after selling 2,000 shares during the quarter. Viking Fund Management LLC's holdings in CME Group were worth $2,047,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bromfield Sneider Wealth Advisors acquired a new position in CME Group in the first quarter valued at $26,000. J.W. Cole Advisors Inc. bought a new stake in CME Group in the first quarter valued at $26,000. Power Corp of Canada bought a new stake in shares of CME Group during the first quarter worth about $26,000. IndexIQ Advisors LLC bought a new stake in shares of CME Group during the first quarter worth about $27,000. Finally, Cornerstone Advisory LLC bought a new stake in shares of CME Group during the fourth quarter worth about $29,000. 85.56% of the stock is owned by institutional investors.

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CME Group Trading Down 1.2 %

Shares of CME stock traded down $2.25 on Friday, hitting $181.08. 1,265,750 shares of the company's stock traded hands, compared to its average volume of 1,331,518. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a one year low of $178.75 and a one year high of $256.94. The company's fifty day simple moving average is $198.09 and its 200 day simple moving average is $210.08. The stock has a market capitalization of $65.09 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.92 and a beta of 0.40.

CME Group (NASDAQ:CME – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.05. The business had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.25 billion. CME Group had a net margin of 60.43% and a return on equity of 9.65%. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.64 EPS. Equities analysts forecast that CME Group Inc. will post 7.96 EPS for the current year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Friday, September 9th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $4.00 annualized dividend and a yield of 2.21%. CME Group's payout ratio is currently 49.63%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Credit Suisse Group cut their price target on shares of CME Group from $216.00 to $210.00 and set a "neutral" rating on the stock in a report on Tuesday, September 6th. UBS Group decreased their target price on shares of CME Group from $246.00 to $240.00 and set a "buy" rating on the stock in a report on Tuesday, August 2nd. Jefferies Financial Group started coverage on shares of CME Group in a report on Tuesday, May 31st. They set a "buy" rating and a $267.00 target price on the stock. Morgan Stanley decreased their target price on shares of CME Group from $242.00 to $226.00 and set an "equal weight" rating on the stock in a report on Thursday, July 28th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of CME Group from $208.00 to $212.00 and gave the stock a "hold" rating in a report on Friday, August 12th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $230.80.

Insider Buying and Selling at CME Group

In other news, Director Daniel R. Glickman sold 500 shares of the firm's stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $196.39, for a total value of $98,195.00. Following the completion of the sale, the director now directly owns 14,597 shares of the company's stock, valued at approximately $2,866,704.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Daniel R. Glickman sold 500 shares of the stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $196.39, for a total value of $98,195.00. Following the completion of the transaction, the director now directly owns 14,597 shares in the company, valued at approximately $2,866,704.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Derek Sammann sold 4,000 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $201.51, for a total transaction of $806,040.00. Following the completion of the transaction, the insider now owns 13,333 shares of the company's stock, valued at $2,686,732.83. The disclosure for this sale can be found here. Insiders sold 10,511 shares of company stock valued at $2,123,186 in the last quarter. Company insiders own 0.30% of the company's stock.

About CME Group

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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.