CME Group Inc. $CME Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its holdings in CME Group Inc. (NASDAQ:CME) by 2.1% during the 2nd quarter, Holdings Channel reports. The firm owned 9,077 shares of the financial services provider’s stock after selling 198 shares during the period. Institute for Wealth Management LLC.’s holdings in CME Group were worth $2,502,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Webster Bank N. A. grew its position in shares of CME Group by 206.9% in the second quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 60 shares during the last quarter. Highline Wealth Partners LLC grew its position in shares of CME Group by 84.3% in the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 43 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in CME Group during the first quarter worth approximately $25,000. Cornerstone Planning Group LLC boosted its position in CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its position in CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 98 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at CME Group

In other news, insider Timothy Francis Mccourt sold 379 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the transaction, the insider owned 9,508 shares of the company’s stock, valued at approximately $2,470,463.64. This trade represents a 3.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sunil Cutinho sold 11,896 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the completion of the transaction, the insider directly owned 17,440 shares in the company, valued at approximately $4,734,436.80. This represents a 40.55% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,043 shares of company stock worth $3,527,956. 0.30% of the stock is currently owned by insiders.

CME Group Stock Performance

NASDAQ:CME opened at $270.19 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a market cap of $97.37 billion, a P/E ratio of 26.16, a P/E/G ratio of 4.93 and a beta of 0.43. CME Group Inc. has a fifty-two week low of $213.94 and a fifty-two week high of $290.79. The firm’s 50 day moving average is $270.73 and its two-hundred day moving average is $271.13.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the firm posted $2.56 earnings per share. CME Group’s revenue was up 10.4% on a year-over-year basis. Analysts expect that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group’s dividend payout ratio (DPR) is currently 48.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CME. Barclays set a $298.00 target price on shares of CME Group and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. UBS Group decreased their target price on shares of CME Group from $305.00 to $285.00 and set a “neutral” rating on the stock in a research report on Monday, September 8th. Piper Sandler raised their target price on shares of CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 15th. Wall Street Zen lowered shares of CME Group from a “hold” rating to a “sell” rating in a research report on Sunday, July 13th. Finally, Oppenheimer raised their target price on shares of CME Group from $300.00 to $303.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $268.14.

CME Group 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.