CME Group Inc. (NASDAQ:CME) Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC boosted its position in shares of CME Group Inc. (NASDAQ:CME) by 0.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,901 shares of the financial services provider’s stock after purchasing an additional 651 shares during the period. Fred Alger Management LLC’s holdings in CME Group were worth $18,264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gold Investment Management Ltd. purchased a new stake in shares of CME Group during the fourth quarter worth about $26,000. Salomon & Ludwin LLC purchased a new position in shares of CME Group during the 1st quarter valued at approximately $28,000. Y.D. More Investments Ltd acquired a new stake in shares of CME Group during the second quarter worth approximately $36,000. McClarren Financial Advisors Inc. increased its stake in shares of CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after buying an additional 78 shares during the last quarter. Finally, Asset Dedication LLC increased its stake 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 last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling at CME Group

In other news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total transaction of $163,610.46. Following the transaction, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bryan T. Durkin sold 7,593 shares of the company’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 sale, the director now directly owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CME has been the topic of a number of research analyst reports. Bank of America downgraded shares of CME Group from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $212.00 to $177.00 in a research note on Tuesday, September 3rd. Barclays lifted their price target on CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. Keefe, Bruyette & Woods boosted their price objective on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on CME Group from $193.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price target on shares of CME Group in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $209.73.

CME Group Stock Down 0.3 %

Shares of CME Group stock opened at $217.52 on Thursday. The stock has a market capitalization of $78.32 billion, a price-to-earnings ratio of 24.75, a PEG ratio of 8.74 and a beta of 0.55. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $223.80. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The business’s 50 day simple moving average is $208.65 and its 200-day simple moving average is $207.41.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.03. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same period last year, the company earned $2.30 earnings per share. Equities research analysts forecast that CME Group Inc. will post 9.94 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $4.60 annualized dividend and a yield of 2.11%. 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.