CME Group Inc. (NASDAQ:CME) Position Trimmed by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC lowered its stake in CME Group Inc. (NASDAQ:CME) by 8.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,713 shares of the financial services provider’s stock after selling 11,899 shares during the period. CME Group makes up about 0.4% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Horizon Kinetics Asset Management LLC’s holdings in CME Group were worth $28,400,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in shares of CME Group during the third quarter worth $26,000. Y.D. More Investments Ltd acquired a new stake in CME Group during the 2nd quarter worth about $36,000. McClarren Financial Advisors Inc. lifted its stake in CME Group by 66.1% during the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after buying an additional 78 shares in the last quarter. Asset Dedication LLC boosted its holdings in shares of CME Group by 515.2% in the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after buying an additional 170 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in shares of CME Group by 62.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 74 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Insider Activity at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the transaction, the director now owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. The trade was a 12.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,621 shares of company stock valued at $3,441,063. Corporate insiders own 0.30% of the company’s stock.

CME Group Price Performance

NASDAQ CME opened at $229.04 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $82.54 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 5.28 and a beta of 0.55. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $230.74. The company has a 50 day moving average price of $223.64 and a two-hundred day moving average price of $211.08.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.03. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. CME Group’s quarterly revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.25 EPS. As a group, equities analysts predict that CME Group Inc. will post 10.22 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 9th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, December 9th. This represents a $4.60 annualized dividend and a dividend yield of 2.01%. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

Analysts Set New Price Targets

A number of research firms recently commented on CME. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Piper Sandler lifted their price target on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Morgan Stanley increased their price objective on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada restated a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research report on Thursday, October 24th. Finally, Redburn Atlantic downgraded CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price on the stock. in a report on Tuesday, October 8th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, CME Group has a consensus rating of “Hold” and a consensus price target of $224.47.

CME Group 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.