Portside Wealth Group LLC Boosts Stake in CME Group Inc. (NASDAQ:CME)

by · The Markets Daily

Portside Wealth Group LLC increased its position in CME Group Inc. (NASDAQ:CME – Free Report) by 2.1% in the first quarter, HoldingsChannel.com reports. The fund owned 3,878 shares of the financial services provider’s stock after buying an additional 78 shares during the period. Portside Wealth Group LLC’s holdings in CME Group were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in CME Group during the fourth quarter valued at $1,107,389,000. Price T Rowe Associates Inc. MD raised its stake in shares of CME Group by 89.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,280,785 shares of the financial services provider’s stock valued at $1,923,047,000 after buying an additional 3,921,278 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of CME Group during the 4th quarter valued at about $871,063,000. GAMMA Investing LLC lifted its holdings in shares of CME Group by 32,941.0% in the 1st quarter. GAMMA Investing LLC now owns 1,858,887 shares of the financial services provider’s stock valued at $493,144,000 after buying an additional 1,853,261 shares during the period. Finally, Capital Wealth Planning LLC boosted its stake in shares of CME Group by 69.2% in the fourth quarter. Capital Wealth Planning LLC now owns 2,435,823 shares of the financial services provider’s stock worth $565,671,000 after buying an additional 996,498 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Bank of America boosted their price target on CME Group from $200.00 to $219.00 and gave the company an “underperform” rating in a report on Wednesday, April 2nd. Piper Sandler raised their price target on shares of CME Group from $275.00 to $283.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Erste Group Bank cut shares of CME Group from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 24th. Keefe, Bruyette & Woods upped their price objective on shares of CME Group from $265.00 to $273.00 and gave the stock a “market perform” rating in a research report on Thursday, April 24th. Finally, UBS Group raised their target price on CME Group from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $258.20.

View Our Latest Report on CME Group

CME Group Trading Down 1.6%

Shares of CME opened at $277.88 on Thursday. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $290.79. The stock has a market cap of $100.14 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 6.76 and a beta of 0.45. The firm’s fifty day moving average is $271.26 and its two-hundred day moving average is $252.28. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.19. CME Group had a net margin of 57.52% and a return on equity of 13.62%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm posted $2.50 earnings per share. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts forecast that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Monday, June 9th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Monday, June 9th. CME Group’s dividend payout ratio (DPR) is 50.30%.

Insider Transactions at CME Group

In other news, Director Martin J. Gepsman sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $273.17, for a total transaction of $81,951.00. Following the completion of the sale, the director now owns 24,767 shares in the company, valued at $6,765,601.39. This trade represents a 1.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Howard J. Siegel sold 10,000 shares of CME Group stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $260.00, for a total transaction of $2,600,000.00. Following the sale, the director now directly owns 21,873 shares in the company, valued at approximately $5,686,980. The trade was a 31.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,900 shares of company stock worth $6,147,935 in the last ninety days. Insiders own 0.30% of the company’s stock.

CME Group Company Profile

(Free Report)

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.

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