CME Group Inc. (NASDAQ:CME) Shares Sold by Jessup Wealth Management Inc

Jessup Wealth Management Inc lessened its stake in CME Group Inc. (NASDAQ:CME) by 74.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,947 shares of the financial services provider’s stock after selling 22,936 shares during the quarter. Jessup Wealth Management Inc’s holdings in CME Group were worth $1,711,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of CME. Norges Bank purchased a new position in CME Group in the 4th quarter valued at $959,260,000. Capital Wealth Planning LLC acquired a new stake in shares of CME Group during the fourth quarter valued at about $253,563,000. Capital World Investors raised its position in CME Group by 8.7% in the fourth quarter. Capital World Investors now owns 14,589,867 shares of the financial services provider’s stock valued at $3,072,654,000 after purchasing an additional 1,172,575 shares during the period. Morgan Stanley raised its holdings in shares of CME Group by 31.5% in the 3rd quarter. Morgan Stanley now owns 4,858,967 shares of the financial services provider’s stock valued at $972,863,000 after buying an additional 1,163,103 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of CME Group in the fourth quarter valued at approximately $113,772,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of CME Group from $209.00 to $216.00 and gave the stock a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. lowered shares of CME Group from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $206.00 to $187.00 in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $210.00 price objective (down from $235.00) on shares of CME Group in a research note on Friday, April 5th. Argus raised their target price on shares of CME Group from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Morgan Stanley boosted their price target on shares of CME Group from $222.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, CME Group presently has a consensus rating of “Hold” and a consensus target price of $215.90.

Insider Transactions at CME Group

In related news, Director Charles P. Carey sold 3,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $195.44, for a total value of $586,320.00. Following the completion of the transaction, the director now directly owns 7,163 shares in the company, valued at $1,399,936.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Charles P. Carey sold 3,000 shares of CME Group stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $195.44, for a total value of $586,320.00. Following the transaction, the director now owns 7,163 shares in the company, valued at $1,399,936.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Daniel R. Glickman sold 650 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $201.44, for a total value of $130,936.00. Following the sale, the director now owns 14,008 shares of the company’s stock, valued at approximately $2,821,771.52. The disclosure for this sale can be found here. Insiders sold a total of 54,290 shares of company stock worth $11,393,700 over the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

CME Group Price Performance

CME stock traded up $0.60 during trading on Friday, reaching $196.13. 1,772,604 shares of the company were exchanged, compared to its average volume of 1,862,042. CME Group Inc. has a 52-week low of $180.11 and a 52-week high of $223.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $70.62 billion, a P/E ratio of 22.24, a PEG ratio of 5.15 and a beta of 0.52. The stock’s 50 day moving average price is $205.91 and its 200 day moving average price is $208.87.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.06. The business had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.48 billion. CME Group had a return on equity of 12.45% and a net margin of 56.84%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.42 EPS. As a group, analysts predict that CME Group Inc. will post 9.75 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Investors of record on Friday, June 7th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date was Friday, June 7th. CME Group’s dividend payout ratio is presently 52.33%.

About CME Group

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.