Chevy Chase Trust Holdings LLC Cuts Stake in CME Group Inc. (NASDAQ:CME)

Chevy Chase Trust Holdings LLC lowered its position in shares of CME Group Inc. (NASDAQ:CME) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 201,211 shares of the financial services provider’s stock after selling 2,868 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in CME Group were worth $39,558,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Second Half Financial Partners LLC purchased a new stake in CME Group during the 4th quarter valued at about $2,737,000. Raymond James Financial Services Advisors Inc. raised its stake in CME Group by 2.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,041,526 shares of the financial services provider’s stock valued at $224,230,000 after purchasing an additional 23,340 shares in the last quarter. Bluefin Capital Management LLC purchased a new stake in CME Group during the fourth quarter valued at $2,891,000. Alaska Permanent Fund Corp raised its stake in CME Group by 81.4% during the first quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock valued at $9,588,000 after purchasing an additional 19,985 shares in the last quarter. Finally, Western Pacific Wealth Management LP raised its stake in CME Group by 20.2% during the fourth quarter. Western Pacific Wealth Management LP now owns 523 shares of the financial services provider’s stock valued at $110,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of CME stock traded up $0.09 on Wednesday, reaching $208.79. 426,759 shares of the company were exchanged, compared to its average volume of 1,928,848. The company has a market cap of $75.18 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 6.27 and a beta of 0.52. The business has a 50-day moving average price of $198.94 and a 200 day moving average price of $207.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.01 and a current ratio of 1.02. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $223.80.

CME Group (NASDAQ:CME) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter in the prior year, the company earned $2.30 EPS. CME Group’s revenue was up 12.7% compared to the same quarter last year. Equities research analysts forecast that CME Group Inc. will post 9.8 earnings per share for the current fiscal year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, September 9th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, September 9th. This represents a $4.60 annualized dividend and a yield of 2.20%. CME Group’s dividend payout ratio is presently 52.33%.

Insider Activity

In other news, Director Daniel R. Glickman sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $201.44, for a total value of $130,936.00. Following the completion of the sale, the director now owns 14,008 shares of the company’s stock, valued at approximately $2,821,771.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Charles P. Carey sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $195.44, for a total value of $586,320.00. Following the transaction, the director now directly owns 7,163 shares in the company, valued at approximately $1,399,936.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Daniel R. Glickman sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $201.44, for a total transaction of $130,936.00. Following the completion of the transaction, the director now owns 14,008 shares in the company, valued at $2,821,771.52. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CME shares. Keefe, Bruyette & Woods upped their price target on shares of CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $225.00 price objective on shares of CME Group in a research report on Tuesday. Bank of America boosted their price objective on shares of CME Group from $209.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Finally, Barclays increased their target price on shares of CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $213.27.

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.