Assetmark Inc. Buys 9,063 Shares of CME Group Inc. $CME

Assetmark Inc. lifted its stake in CME Group Inc. (NASDAQ:CME) by 36.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,144 shares of the financial services provider’s stock after buying an additional 9,063 shares during the period. Assetmark Inc.’s holdings in CME Group were worth $9,411,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CME. Wayfinding Financial LLC bought a new stake in shares of CME Group in the first quarter valued at about $25,000. Webster Bank N. A. lifted its stake 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 buying an additional 60 shares during the period. Cornerstone Planning Group LLC lifted its stake in shares of CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock valued at $26,000 after buying an additional 55 shares during the period. Highline Wealth Partners LLC lifted its stake 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 buying an additional 43 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake 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 purchasing an additional 98 shares during the period. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Performance

NASDAQ:CME opened at $265.49 on Friday. CME Group Inc. has a 1 year low of $213.94 and a 1 year high of $290.79. The firm has a 50 day moving average of $265.83 and a 200-day moving average of $272.09. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $95.68 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 4.41 and a beta of 0.41.

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

CME Group Dividend Announcement

The company 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. The ex-dividend date was Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. CME Group’s payout ratio is 48.45%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CME. Morgan Stanley lifted their price objective on CME Group from $312.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Raymond James Financial decreased their price objective on CME Group from $309.00 to $307.00 and set an “outperform” rating on the stock in a report on Monday, October 13th. Argus decreased their price objective on CME Group from $308.00 to $295.00 in a report on Friday. Deutsche Bank Aktiengesellschaft raised CME Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from $266.00 to $300.00 in a report on Thursday, October 23rd. Finally, Piper Sandler lifted their price objective on CME Group from $283.00 to $296.00 and gave the company an “overweight” rating in a report on Tuesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, CME Group has an average rating of “Hold” and an average price target of $285.19.

About CME Group

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.