Keebeck Wealth Management Takes $583,000 Position in CME Group Inc. $CME

Keebeck Wealth Management acquired a new stake in CME Group Inc. (NASDAQ:CME) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,641 shares of the financial services provider’s stock, valued at approximately $583,000.

A number of other hedge funds also recently added to or reduced their stakes in CME. Keating Financial Advisory Services Inc. bought a new position in CME Group during the 2nd quarter worth about $125,000. Bowie Capital Management LLC bought a new stake in shares of CME Group in the 2nd quarter valued at about $22,991,000. Allworth Financial LP bought a new stake in shares of CME Group in the 2nd quarter valued at about $12,151,000. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of CME Group in the 2nd quarter worth approximately $7,771,000. Finally, Silvant Capital Management LLC purchased a new stake in shares of CME Group in the 2nd quarter worth approximately $77,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CME Group

In other CME Group news, Director William R. Shepard purchased 325 shares of CME Group stock in a transaction dated Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of the transaction, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

CME Group Stock Up 1.5%

NASDAQ:CME opened at $274.98 on Friday. The company’s 50-day simple moving average is $251.17 and its 200-day simple moving average is $279.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The stock has a market capitalization of $98.88 billion, a P/E ratio of 23.32, a P/E/G ratio of 3.16 and a beta of 0.23.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $2.96 EPS. CME Group’s revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate that CME Group Inc. will post 12.27 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s payout ratio is currently 44.11%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CME. The Goldman Sachs Group cut their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. UBS Group lowered their target price on CME Group from $310.00 to $260.00 and set a “buy” rating for the company in a report on Monday, July 6th. Bank of America increased their target price on CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research report on Thursday, July 23rd. Morgan Stanley lifted their price target on CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, Erste Group Bank lowered CME Group from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $288.56.

CME Group Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.