Elkhorn Partners Limited Partnership Cuts Stock Position in CME Group Inc. (NASDAQ:CME)

Elkhorn Partners Limited Partnership lowered its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 57.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,097 shares of the financial services provider's stock after selling 1,503 shares during the period. CME Group comprises about 0.2% of Elkhorn Partners Limited Partnership's investment portfolio, making the stock its 14th biggest holding. Elkhorn Partners Limited Partnership's holdings in CME Group were worth $255,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. SJS Investment Consulting Inc. raised its position in shares of CME Group by 570.6% in the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider's stock worth $26,000 after acquiring an additional 97 shares in the last quarter. New Age Alpha Advisors LLC grew its position in shares of CME Group by 50.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider's stock worth $30,000 after buying an additional 43 shares during the period. Financial Life Planners bought a new position in shares of CME Group in the 4th quarter worth about $32,000. Knuff & Co LLC purchased a new position in CME Group during the 4th quarter valued at about $33,000. Finally, Fortitude Family Office LLC boosted its stake in CME Group by 120.3% during the fourth quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider's stock worth $35,000 after acquiring an additional 83 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company's stock.

CME Group Trading Up 0.4 %

Shares of CME Group stock traded up $1.14 on Friday, reaching $262.53. The company had a trading volume of 1,794,607 shares, compared to its average volume of 2,146,384. The firm's 50-day moving average price is $257.19 and its two-hundred day moving average price is $240.42. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $273.42. The firm has a market cap of $94.60 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 6.76 and a beta of 0.43. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.01 and a quick ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.06. CME Group had a net margin of 57.52% and a return on equity of 13.62%. As a group, research analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 7th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 7th. This represents a $5.00 dividend on an annualized basis and a yield of 1.90%. This is a boost from CME Group's previous quarterly dividend of $1.15. CME Group's payout ratio is presently 51.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CME shares. Erste Group Bank raised shares of CME Group to a "strong-buy" rating in a research note on Monday, March 17th. Bank of America lifted their price objective on CME Group from $200.00 to $219.00 and gave the company an "underperform" rating in a research note on Wednesday, April 2nd. Piper Sandler increased their target price on CME Group from $275.00 to $283.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Barclays upped their price target on shares of CME Group from $263.00 to $279.00 and gave the stock an "equal weight" rating in a research note on Monday, April 7th. Finally, Citigroup lowered shares of CME Group from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $255.00 to $250.00 in a research note on Monday, January 6th. Four analysts have rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $247.47.

Insider Buying and Selling at CME Group

In other CME Group news, insider Julie Winkler sold 11,592 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total value of $2,888,378.64. Following the completion of the sale, the insider now directly owns 21,885 shares in the company, valued at approximately $5,453,085.45. This represents a 34.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Suzanne Sprague sold 1,500 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $256.83, for a total value of $385,245.00. Following the transaction, the chief operating officer now owns 8,036 shares in the company, valued at approximately $2,063,885.88. This represents a 15.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,076 shares of company stock valued at $6,871,496 in the last quarter. 0.30% of the stock is owned by insiders.

About CME Group

CME Group Inc, together with its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers futures and options products based on interest rates, equity indexes, foreign exchange, agricultural commodities, energy, and metals, as well as fixed income and foreign currency trading services.