Renasant Bank Boosts Stock Holdings in CME Group Inc. $CME

Renasant Bank lifted its position in CME Group Inc. (NASDAQ:CME) by 183.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,180 shares of the financial services provider’s stock after acquiring an additional 2,057 shares during the quarter. Renasant Bank’s holdings in CME Group were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CME. Empowered Funds LLC lifted its position in shares of CME Group by 11.5% during the first quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 1,037 shares in the last quarter. Marshall Wace LLP grew its position in CME Group by 103.1% in the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 121,707 shares in the last quarter. Federated Hermes Inc. grew its position in CME Group by 1,325.2% in the 2nd quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock worth $6,497,000 after purchasing an additional 21,918 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in CME Group in the 2nd quarter valued at about $992,000. Finally, The Manufacturers Life Insurance Company increased its stake in CME Group by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock valued at $79,344,000 after buying an additional 7,397 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Stock Down 0.1%

CME opened at $285.50 on Tuesday. CME Group Inc. has a twelve month low of $218.31 and a twelve month high of $329.16. The company’s 50-day moving average price is $254.60 and its two-hundred day moving average price is $278.79. The stock has a market cap of $102.66 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 3.40 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 (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. CME Group’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $2.96 EPS. As a group, equities analysts expect that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 9th. CME Group’s dividend payout ratio is 44.11%.

Analyst Ratings Changes

CME has been the topic of a number of research analyst reports. 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. JPMorgan Chase & Co. increased their price target on CME Group from $249.00 to $250.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. The Goldman Sachs Group dropped their price target on CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft cut CME Group from a “buy” rating to a “hold” rating and cut their price objective for the stock from $286.00 to $270.00 in a research report on Wednesday, August 19th. Finally, Piper Sandler decreased their target price on CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research report on Wednesday, July 15th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $288.56.

Insider Transactions at CME Group

In other news, Director William R. Shepard bought 325 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by corporate insiders.

CME Group 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.