111 Capital Reduces Stake in CME Group Inc. $CME

Key Points

• 111 Capital reduced its holdings in CME Group by 42.9%, leaving them with 2,082 shares valued at approximately $574,000 as of the most recent reporting period.
• Several hedge funds, including Vanguard Group and Raymond James Financial, have increased their stakes in CME Group during the first quarter, contributing to its overall institutional ownership of 87.75%.
• CME Group reported better-than-expected quarterly earnings, with an EPS of $2.96, surpassing analysts' estimates of $2.91, alongside a revenue of $1.69 billion.

111 Capital lowered its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 42.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,082 shares of the financial services provider's stock after selling 1,566 shares during the quarter. 111 Capital's holdings in CME Group were worth $574,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in CME Group by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 34,643,827 shares of the financial services provider's stock worth $9,190,661,000 after buying an additional 400,737 shares during the last quarter. Raymond James Financial Inc. grew its stake in CME Group by 9.7% during the 1st quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider's stock worth $1,091,401,000 after buying an additional 363,130 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in CME Group by 29.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider's stock worth $747,744,000 after buying an additional 648,591 shares during the last quarter. AQR Capital Management LLC grew its stake in CME Group by 10.3% during the 1st quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider's stock worth $735,539,000 after buying an additional 260,065 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in CME Group by 11.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,727,809 shares of the financial services provider's stock worth $723,660,000 after buying an additional 290,147 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CME. Citigroup upgraded CME Group from a "neutral" rating to a "buy" rating and raised their price target for the stock from $275.00 to $300.00 in a research note on Thursday, September 25th. UBS Group lowered their target price on CME Group from $305.00 to $285.00 and set a "neutral" rating on the stock in a research note on Monday, September 8th. Piper Sandler upped their price target on CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Morgan Stanley increased their price target on CME Group from $303.00 to $312.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen downgraded CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $274.15.

Insider Transactions at CME Group

In related news, General Counsel Jonathan L. Marcus sold 392 shares of CME Group stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the transaction, the general counsel directly owned 7,851 shares of the company's stock, valued at approximately $2,056,962. The trade was a 4.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sunil Cutinho sold 11,896 shares of CME Group stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total value of $3,229,407.12. Following the transaction, the insider directly owned 17,440 shares of the company's stock, valued at approximately $4,734,436.80. This represents a 40.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,043 shares of company stock worth $3,527,956. 0.30% of the stock is currently owned by insiders.

CME Group Price Performance

CME Group stock opened at $264.67 on Monday. The company has a market cap of $95.38 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 5.57 and a beta of 0.41. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The business has a fifty day moving average of $269.98 and a two-hundred day moving average of $271.16. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.05. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The business's revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.56 EPS. As a group, analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. CME Group's payout ratio is 48.40%.

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.

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