Abacus Planning Group Inc. Increases Position in CME Group Inc (NASDAQ:CME)

Abacus Planning Group Inc. increased its stake in shares of CME Group Inc (NASDAQ:CME) by 70.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,783 shares of the financial services provider’s stock after buying an additional 1,150 shares during the quarter. Abacus Planning Group Inc.’s holdings in CME Group were worth $588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advantage Investment Management LLC boosted its holdings in CME Group by 119.0% in the second quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 100 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in CME Group in the third quarter valued at $36,000. Westside Investment Management Inc. purchased a new stake in CME Group in the second quarter valued at $38,000. Private Capital Group LLC boosted its holdings in CME Group by 44.9% in the second quarter. Private Capital Group LLC now owns 242 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 75 shares during the last quarter. Finally, Independence Bank of Kentucky purchased a new stake in CME Group in the third quarter valued at $40,000. 84.80% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Sean Tully sold 7,200 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $223.13, for a total transaction of $1,606,536.00. Following the completion of the transaction, the insider now owns 19,923 shares in the company, valued at approximately $4,445,418.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel R. Glickman sold 500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $216.01, for a total transaction of $108,005.00. Following the transaction, the director now owns 14,593 shares of the company’s stock, valued at approximately $3,152,233.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,136 shares of company stock valued at $3,319,698. Insiders own 1.20% of the company’s stock.

CME stock opened at $198.59 on Thursday. The company’s 50-day simple moving average is $209.04 and its 200-day simple moving average is $201.37. The company has a quick ratio of 1.05, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. CME Group Inc has a 52-week low of $161.05 and a 52-week high of $224.91. The firm has a market cap of $72.16 billion, a P/E ratio of 29.12, a PEG ratio of 3.95 and a beta of 0.18.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.15. CME Group had a net margin of 40.93% and a return on equity of 9.54%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted $1.45 EPS. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. On average, analysts anticipate that CME Group Inc will post 6.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 10th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.51%. CME Group’s payout ratio is currently 43.99%.

CME has been the topic of several recent research reports. Deutsche Bank upped their price target on shares of CME Group from $224.00 to $240.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer began coverage on shares of CME Group in a report on Monday, September 16th. They issued an “outperform” rating and a $234.00 price target on the stock. Berenberg Bank lowered shares of CME Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from $236.00 to $227.00 in a research note on Thursday, September 19th. BidaskClub lowered shares of CME Group from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, ValuEngine lowered shares of CME Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. CME Group has an average rating of “Hold” and an average price target of $203.36.

CME Group Profile

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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