NewEdge Wealth LLC Takes $1.76 Million Position in CME Group Inc. $CME

NewEdge Wealth LLC acquired a new stake in CME Group Inc. (NASDAQ:CME) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,959 shares of the financial services provider’s stock, valued at approximately $1,758,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CME. Whipplewood Advisors LLC grew its position in shares of CME Group by 2,075.0% during the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 83 shares in the last quarter. Elkhorn Partners Limited Partnership purchased a new stake in shares of CME Group in the fourth quarter worth $27,000. Hilton Head Capital Partners LLC purchased a new stake in shares of CME Group in the fourth quarter worth $28,000. Legacy Wealth Managment LLC ID boosted its stake in CME Group by 191.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock valued at $29,000 after buying an additional 71 shares during the period. Finally, Main Street Group LTD bought a new stake in CME Group during the first quarter valued at $32,000. Institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CME. TD Cowen decreased their target price on CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Barclays dropped their price target on CME Group from $316.00 to $270.00 and set an “equal weight” rating for the company in a research report on Thursday, July 9th. Wall Street Zen lowered CME Group from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Piper Sandler decreased their price objective on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $320.00 target price on shares of CME Group in a research note on Thursday, July 2nd. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $288.56.

Insider Buying and Selling at CME Group

In other news, Director William R. Shepard bought 325 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was bought at an average price of $230.57 per share, for a total transaction 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. This represents a 0.12% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

CME Group Stock Up 1.5%

CME opened at $270.87 on Friday. The stock has a market cap of $97.40 billion, a PE ratio of 22.97, a P/E/G ratio of 3.11 and a beta of 0.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16. The business’s fifty day simple moving average is $251.06 and its 200 day simple moving average is $279.68.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating 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 last year, the business posted $2.96 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts expect that CME Group Inc. will post 12.27 earnings per share for the current fiscal year.

CME Group Announces Dividend

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

About CME Group

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.