Accel Wealth Management Acquires New Stake in CME Group Inc. $CME

Accel Wealth Management bought a new stake in shares of CME Group Inc. (NASDAQ:CME) in the third quarter, Holdings Channel.com reports. The institutional investor bought 2,421 shares of the financial services provider’s stock, valued at approximately $634,000.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of CME Group during the third quarter worth $184,000. Downshift Financial LLC lifted its holdings in shares of CME Group by 47.7% during the 3rd quarter. Downshift Financial LLC now owns 189 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 61 shares during the last quarter. Montrusco Bolton Investments Inc. acquired a new stake in shares of CME Group in the 3rd quarter worth $75,841,000. Sax Wealth Advisors LLC boosted its position in shares of CME Group by 183.1% in the 3rd quarter. Sax Wealth Advisors LLC now owns 8,615 shares of the financial services provider’s stock worth $2,257,000 after purchasing an additional 5,572 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in shares of CME Group by 24.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 10,328 shares of the financial services provider’s stock worth $2,706,000 after purchasing an additional 2,018 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

CME Group Stock Performance

CME Group stock traded up $0.79 during trading hours on Tuesday, hitting $278.03. 1,418,779 shares of the stock traded hands, compared to its average volume of 2,522,823. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s 50 day moving average price is $272.29 and its 200-day moving average price is $270.83. The stock has a market capitalization of $99.97 billion, a price-to-earnings ratio of 23.58, a P/E/G ratio of 3.67 and a beta of 0.24. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16.

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. 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 analyst estimates of $1.68 billion. During the same period in the prior year, the company earned $2.96 earnings per share. The company’s revenue was up .8% on a year-over-year basis. As a group, equities analysts expect that CME Group Inc. will post 12.29 EPS for the current fiscal year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were given a $1.30 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. CME Group’s dividend payout ratio is currently 44.11%.

Insider Activity at CME Group

In related news, CEO Terrence Duffy sold 15,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $274.44, for a total value of $4,116,600.00. Following the transaction, the chief executive officer owned 40,630 shares in the company, valued at approximately $11,150,497.20. This represents a 26.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Shepard purchased 293 shares of CME Group stock in a transaction on Friday, September 25th. The shares were acquired at an average cost of $268.76 per share, with a total value of $78,746.68. Following the completion of the transaction, the director directly owned 263,289 shares in the company, valued at $70,761,551.64. The trade was a 0.11% increase in their position. The SEC filing for this purchase provides additional information. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Keefe, Bruyette & Woods upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 target price on the stock in a research note on Thursday, June 18th. Piper Sandler decreased their price target on CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a research note on Wednesday, July 15th. Weiss Ratings raised CME Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. JPMorgan Chase & Co. raised their price target on CME Group from $249.00 to $250.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Finally, 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 research note on Tuesday, June 30th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, CME Group has a consensus rating of “Hold” and a consensus price target of $292.06.

CME Group Company Profile

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group’s history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.