Avantax Advisory Services Inc. Acquires 2,469 Shares of CME Group Inc. $CME

Avantax Advisory Services Inc. increased its stake in CME Group Inc. (NASDAQ:CME) by 12.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 21,900 shares of the financial services provider’s stock after buying an additional 2,469 shares during the quarter. Avantax Advisory Services Inc.’s holdings in CME Group were worth $6,036,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Webster Bank N. A. grew its position in shares of CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 60 shares during the period. Highline Wealth Partners LLC increased its holdings in CME Group by 84.3% in the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 43 shares during the last quarter. Ransom Advisory Ltd bought a new stake in CME Group in the 1st quarter valued at about $31,000. Trifecta Capital Advisors LLC raised its stake in CME Group by 59.2% in the 2nd quarter. Trifecta Capital Advisors LLC now owns 113 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 42 shares during the period. Finally, Westside Investment Management Inc. lifted its holdings in CME Group by 105.0% during the second quarter. Westside Investment Management Inc. now owns 123 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Activity at CME Group

In other CME Group news, General Counsel Jonathan L. Marcus sold 392 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the sale, the general counsel owned 7,851 shares of the company’s stock, valued at $2,056,962. This represents a 4.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harold Eugene Jr. Ford sold 1,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $263.53, for a total transaction of $263,530.00. Following the completion of the sale, the director directly owned 1,091 shares in the company, valued at approximately $287,511.23. This trade represents a 47.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 14,043 shares of company stock worth $3,791,486 over the last ninety days. Insiders own 0.30% of the company’s stock.

CME Group Stock Performance

NASDAQ:CME opened at $279.28 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 1-year low of $224.62 and a 1-year high of $290.79. The business has a 50 day moving average of $268.02 and a 200 day moving average of $272.83. The company has a market capitalization of $100.71 billion, a price-to-earnings ratio of 27.06, a PEG ratio of 4.41 and a beta of 0.38.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.05. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, sell-side analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Friday, December 12th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, December 12th. CME Group’s dividend payout ratio is currently 48.45%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. UBS Group reduced their target price on shares of CME Group from $285.00 to $280.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Jefferies Financial Group reduced their target price on CME Group from $313.00 to $304.00 and set a “buy” rating for the company in a report on Friday, October 10th. Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $275.00 to $300.00 in a report on Thursday, September 25th. TD Cowen raised their price objective on shares of CME Group from $288.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of CME Group from $283.00 to $287.00 and gave the company a “market perform” rating in a research note on Monday, October 13th. Eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $287.65.

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.