CME Group (NASDAQ:CME) Stock: Insider Howard Siegel Sells 2,000 Shares

CME Group Inc. (NASDAQ:CME) Director Howard Siegel sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $303.00, for a total value of $606,000.00. Following the completion of the sale, the director directly owned 19,873 shares of the company’s stock, valued at $6,021,519. The trade was a 9.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CME Group Price Performance

Shares of CME Group stock opened at $308.27 on Thursday. The stock has a market cap of $110.34 billion, a price-to-earnings ratio of 25.29, a price-to-earnings-growth ratio of 3.71 and a beta of 0.15. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50 day moving average price of $282.08 and a 200-day moving average price of $280.52. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.71 billion. CME Group had a return on equity of 16.23% and a net margin of 63.33%. CME Group’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.68 EPS. Equities analysts expect that CME Group Inc. will post 12.34 EPS for the current year.

CME Group News Summary

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: October weekend trading in crypto reportedly reached a record $1.3 billion on CME, while coverage also highlights record trading volumes. Sustained activity could lift transaction-related revenue. Weekend crypto trading article Record trading volumes article
• Positive Sentiment: CME Group’s market-data revenue reached a record $243 million last quarter, adding a recurring revenue source alongside trading fees. Market-data revenue article
• Neutral Sentiment: The CFTC’s approval of stock perpetual futures for U.S. registered exchanges could expand the futures market, but the report does not establish how much CME Group may benefit. CFTC stock perpetual futures article
• Negative Sentiment: Two insiders sold shares on Nov. 2: Julie Winkler sold 10,079 shares, reducing her position by about 32%, and director Howard Siegel sold 2,000 shares, cutting his holdings by about 9%. Such sales may weigh on sentiment, although both retained shares. Insider sales report

Wall Street Analysts Forecast Growth

CME has been the topic of several recent analyst reports. Wall Street Zen raised shares of CME Group from a “sell” rating to a “hold” rating in a research note on Saturday, October 31st. Bank of America raised their target price on shares of CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a report on Thursday, July 23rd. UBS Group lifted their price target on shares of CME Group from $270.00 to $310.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Morgan Stanley upped their price target on shares of CME Group from $337.00 to $359.00 and gave the company an “overweight” rating in a report on Thursday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of CME Group from a “buy” rating to a “hold” rating and cut their price target for the company from $286.00 to $270.00 in a report on Wednesday, August 19th. Ten research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $314.44.

Institutional Investors Weigh In On CME Group

A number of institutional investors and hedge funds have recently modified their holdings of CME. BlackRock Inc. bought a new position in CME Group in the second quarter worth approximately $6,749,965,000. Bank of America Corp DE lifted its holdings in CME Group by 39.1% during the first quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider’s stock worth $1,187,290,000 after buying an additional 1,130,587 shares during the period. Bank of New York Mellon Corp purchased a new stake in CME Group during the second quarter worth $867,313,000. Alphabet Inc. bought a new stake in CME Group during the 2nd quarter valued at $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in CME Group during the 2nd quarter valued at $629,771,000. 87.75% of the stock is owned by institutional investors.

CME Group Company Profile

CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.

CME Group’s exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.