Prana Capital Management LP Invests $11.72 Million in CME Group Inc. (NASDAQ:CME)

by · The Markets Daily

Prana Capital Management LP acquired a new stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,098 shares of the financial services provider’s stock, valued at approximately $11,716,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CME. Ameriprise Financial Inc. grew its holdings in shares of CME Group by 11.3% in the second quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock worth $1,038,676,000 after purchasing an additional 537,758 shares during the last quarter. Raymond James & Associates increased its holdings in CME Group by 3.2% during the 2nd quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider’s stock valued at $595,530,000 after purchasing an additional 94,302 shares during the period. Legal & General Group Plc lifted its holdings in CME Group by 6.6% in the 2nd quarter. Legal & General Group Plc now owns 2,835,075 shares of the financial services provider’s stock worth $557,371,000 after buying an additional 176,004 shares during the period. Janus Henderson Group PLC lifted its stake in CME Group by 17.8% in the third quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock worth $554,707,000 after acquiring an additional 380,071 shares during the period. Finally, PineStone Asset Management Inc. grew its holdings in shares of CME Group by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,260,644 shares of the financial services provider’s stock worth $444,443,000 after acquiring an additional 1,309,097 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling at CME Group

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 13,261 shares in the company, valued at approximately $2,877,504.39. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sunil Cutinho sold 4,500 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total transaction of $1,019,880.00. Following the completion of the sale, the insider now owns 27,053 shares in the company, valued at $6,131,291.92. This represents a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,028 shares of company stock valued at $1,811,681 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

CME Group Trading Up 2.2 %

Shares of CME opened at $240.73 on Wednesday. The company’s fifty day simple moving average is $226.40 and its 200-day simple moving average is $212.32. The company has a market cap of $86.75 billion, a P/E ratio of 25.31, a P/E/G ratio of 5.43 and a beta of 0.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $241.50.

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

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $4.60 annualized dividend and a yield of 1.91%. CME Group’s payout ratio is currently 48.37%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. TD Cowen began coverage on shares of CME Group in a report on Thursday, September 26th. They set a “hold” rating and a $221.00 target price on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a research report on Thursday, October 24th. The Goldman Sachs Group raised their price objective on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research report on Thursday, October 3rd. Piper Sandler upped their price target on shares of CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Citigroup lifted their target price on shares of CME Group from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $224.47.

View Our Latest Research Report on CME

CME Group 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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