Legacy Bridge LLC Lowers Stock Holdings in CME Group Inc. (NASDAQ:CME)

Legacy Bridge LLC trimmed its position in CME Group Inc. (NASDAQ:CME – Get Rating) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,338 shares of the financial services provider’s stock after selling 130 shares during the quarter. Legacy Bridge LLC’s holdings in CME Group were worth $393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CME. Power Corp of Canada purchased a new stake in CME Group in the first quarter valued at approximately $26,000. EWG Elevate Inc. purchased a new stake in CME Group in the fourth quarter valued at approximately $27,000. Grayhawk Investment Strategies Inc. purchased a new stake in CME Group in the second quarter valued at approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in CME Group in the third quarter valued at approximately $31,000. Finally, Vigilant Capital Management LLC raised its stake in shares of CME Group by 108.4% during the third quarter. Vigilant Capital Management LLC now owns 173 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 90 shares in the last quarter. 85.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on CME. Piper Sandler decreased their price target on shares of CME Group from $270.00 to $250.00 and set an “overweight” rating on the stock in a research note on Monday, December 19th. Citigroup decreased their price target on shares of CME Group from $214.29 to $210.00 in a research note on Thursday, January 12th. StockNews.com began coverage on shares of CME Group in a research note on Thursday. They set a “hold” rating on the stock. Oppenheimer decreased their price target on shares of CME Group from $218.00 to $213.00 and set an “outperform” rating on the stock in a research note on Thursday, January 19th. Finally, Rosenblatt Securities reissued a “sell” rating and set a $161.00 price target on shares of CME Group in a research note on Thursday, February 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, CME Group has a consensus rating of “Moderate Buy” and an average target price of $219.83.

CME Group Stock Performance

NASDAQ:CME opened at $185.98 on Friday. The stock has a market cap of $66.90 billion, a P/E ratio of 25.17, a price-to-earnings-growth ratio of 3.63 and a beta of 0.41. The firm’s fifty day simple moving average is $180.83 and its 200 day simple moving average is $178.75. CME Group Inc. has a twelve month low of $166.54 and a twelve month high of $251.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The financial services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.02. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. CME Group had a net margin of 53.61% and a return on equity of 10.43%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.66 earnings per share. As a group, research analysts predict that CME Group Inc. will post 8.46 EPS for the current year.

CME Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Investors of record on Friday, March 10th will be issued a $1.10 dividend. The ex-dividend date is Thursday, March 9th. This represents a $4.40 annualized dividend and a yield of 2.37%. This is a boost from CME Group’s previous quarterly dividend of $1.00. CME Group’s payout ratio is 59.54%.

About CME Group

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CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.