Keebeck Wealth Management Purchases New Shares in CME Group Inc. $CME

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Whipplewood Advisors LLC raised its stake in shares of CME Group by 2,075.0% in the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 83 shares during the period. Elkhorn Partners Limited Partnership purchased a new position in shares of CME Group during the 4th quarter worth about $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of CME Group during the 4th quarter worth about $28,000. Legacy Wealth Managment LLC ID boosted its stake in shares of CME Group by 191.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 71 shares during the period. Finally, Main Street Group LTD bought a new position in CME Group during the 1st quarter valued at about $32,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Trading Up 1.5%

CME stock opened at $274.98 on Friday. The company has a market capitalization of $98.88 billion, a PE ratio of 23.32, a P/E/G ratio of 3.16 and a beta of 0.23. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The firm’s 50-day moving average is $251.17 and its 200 day moving average is $279.65. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME) last announced its quarterly earnings data 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. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.96 EPS. On average, research analysts anticipate that CME Group Inc. will post 12.27 EPS for the current year.

CME Group Dividend Announcement

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

Wall Street Analyst Weigh In

CME has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of CME Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $286.00 to $270.00 in a research report on Wednesday. UBS Group cut their target price on CME Group from $310.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. TD Cowen reduced their price target on CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a report on Monday, June 22nd. Piper Sandler reduced their price target on CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a report on Wednesday, July 15th. Finally, Keefe, Bruyette & Woods raised CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, CME Group currently has a consensus rating of “Hold” and an average price target of $288.56.

Insider Buying and Selling at CME Group

In other news, Director William R. Shepard purchased 325 shares of the stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

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.