Manitou Investment Management Ltd. Sells 2,029 Shares of CME Group Inc. $CME

Manitou Investment Management Ltd. reduced its stake in shares of CME Group Inc. (NASDAQ:CME) by 89.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 230 shares of the financial services provider’s stock after selling 2,029 shares during the period. Manitou Investment Management Ltd.’s holdings in CME Group were worth $51,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. FLC Capital Advisors bought a new position in shares of CME Group in the fourth quarter worth about $2,122,000. HighTower Advisors LLC raised its stake in CME Group by 6.9% during the 4th quarter. HighTower Advisors LLC now owns 352,922 shares of the financial services provider’s stock valued at $96,376,000 after purchasing an additional 22,692 shares during the period. MOKAN Wealth Management Inc. raised its stake in CME Group by 138.8% during the 4th quarter. MOKAN Wealth Management Inc. now owns 7,144 shares of the financial services provider’s stock valued at $1,953,000 after purchasing an additional 4,152 shares during the period. TD Private Client Wealth LLC lifted its holdings in CME Group by 132.7% in the 4th quarter. TD Private Client Wealth LLC now owns 21,228 shares of the financial services provider’s stock worth $5,797,000 after purchasing an additional 12,105 shares in the last quarter. Finally, Rathbones Group PLC lifted its holdings in CME Group by 1.1% in the 4th quarter. Rathbones Group PLC now owns 999,530 shares of the financial services provider’s stock worth $272,952,000 after purchasing an additional 10,602 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CME. TD Cowen dropped their price target on CME Group from $323.00 to $273.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Bank of America lifted their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research report on Thursday, July 23rd. UBS Group lowered their target price on shares of CME Group from $310.00 to $260.00 and set a “buy” rating on the stock in a report on Monday, July 6th. Erste Group Bank lowered shares of CME Group from a “buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Piper Sandler cut their target price on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Eleven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, CME Group currently has an average rating of “Hold” and an average price target of $291.81.

Insider Buying and Selling

In related news, CEO Terrence A. Duffy sold 35,000 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the sale, the chief executive officer owned 55,630 shares of the company’s stock, valued at $16,606,111.30. This represents a 38.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Shepard acquired 325 shares of the stock in a transaction on Thursday, June 25th. The shares were acquired at an average price of $230.57 per share, with a total value of $74,935.25. Following the transaction, the director directly owned 260,442 shares of the company’s stock, valued at $60,050,111.94. The trade was a 0.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.30% of the stock is currently owned by company insiders.

CME Group Price Performance

NASDAQ:CME opened at $264.32 on Friday. The business’s 50-day moving average is $249.44 and its 200 day moving average is $280.90. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The company has a market capitalization of $95.04 billion, a P/E ratio of 22.42, a P/E/G ratio of 3.08 and a beta of 0.23. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

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

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.0%. CME Group’s dividend payout ratio (DPR) is 44.11%.

CME Group Company 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.