21,320 CME Group Inc. $CME Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its CME Group stake by 36.3% in the third quarter, selling 21,320 shares and ending the period with 37,350 shares valued at about $9.8 million. Institutional investors and hedge funds collectively own 87.75% of the company.
• CME Group’s latest quarterly results beat analyst expectations: earnings were $3.02 per share versus $2.99 expected, while revenue rose 10.6% year over year to $1.74 billion. The company announced a $1.30 quarterly dividend, equivalent to a 1.7% yield at the reported share price.
• Analyst views are mixed, with a consensus “Hold” rating and an average price target of $314.44. Insiders sold 32,979 shares worth about $9.55 million over the past three months.

Lockheed Martin Investment Management Co. decreased its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 36.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,350 shares of the financial services provider's stock after selling 21,320 shares during the period. Lockheed Martin Investment Management Co.'s holdings in CME Group were worth $9,785,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. M&G PLC raised its stake in CME Group by 20.0% in the 3rd quarter. M&G PLC now owns 1,329,259 shares of the financial services provider's stock valued at $348,266,000 after acquiring an additional 221,469 shares during the period. Vestor Capital LLC boosted its position in CME Group by 19.0% during the third quarter. Vestor Capital LLC now owns 10,250 shares of the financial services provider's stock worth $2,685,000 after purchasing an additional 1,636 shares during the period. AlphaCore Capital LLC boosted its position in CME Group by 7.0% during the third quarter. AlphaCore Capital LLC now owns 3,720 shares of the financial services provider's stock worth $975,000 after purchasing an additional 242 shares during the period. Fulcrum Asset Management LLP increased its holdings in shares of CME Group by 69.9% in the third quarter. Fulcrum Asset Management LLP now owns 2,967 shares of the financial services provider's stock valued at $781,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in CME Group by 2.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 64,254 shares of the financial services provider's stock valued at $17,034,000 after acquiring an additional 1,634 shares during the period. 87.75% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Howard Siegel sold 2,000 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $303.00, for a total transaction of $606,000.00. Following the transaction, the director directly owned 19,873 shares of the company's stock, valued at approximately $6,021,519. This represents a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martin Gepsman sold 400 shares of the business's stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $302.50, for a total value of $121,000.00. Following the sale, the director owned 25,244 shares of the company's stock, valued at approximately $7,636,310. This represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 32,979 shares of company stock worth $9,552,762 over the last three months. Insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

CME has been the subject of several recent research reports. Piper Sandler restated an "overweight" rating and issued a $330.00 price target (up from $295.00) on shares of CME Group in a research note on Thursday, October 22nd. Wall Street Zen upgraded CME Group from a "sell" rating to a "hold" rating in a research report on Saturday, October 31st. Bank of America lifted their target price on CME Group from $226.00 to $230.00 and gave the stock an "underperform" rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their price objective on shares of CME Group from $315.00 to $333.00 and gave the company an "overweight" rating in a report on Thursday, October 22nd. Finally, UBS Group increased their price objective on shares of CME Group from $270.00 to $310.00 and gave the stock a "neutral" rating in a research note on Thursday, October 22nd. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $314.44.

CME Group Stock Down 0.4%

CME Group stock opened at $304.52 on Tuesday. 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 Inc. has a 12-month low of $218.31 and a 12-month high of $329.16. The firm's fifty day moving average is $283.48 and its 200 day moving average is $280.92. The company has a market capitalization of $109.00 billion, a PE ratio of 24.98, a PEG ratio of 3.76 and a beta of 0.15.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings results on Wednesday, October 21st. The financial services provider reported $3.02 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.03. CME Group had a net margin of 63.33% and a return on equity of 16.23%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same period last year, the company posted $2.68 earnings per share. The business's quarterly revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that CME Group Inc. will post 12.34 EPS for the current fiscal year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Friday, December 11th will be given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Friday, December 11th. CME Group's payout ratio is presently 42.66%.

About CME Group

CME Group operates a global marketplace for derivatives and other financial products. Through its exchanges—CME, CBOT, NYMEX and COMEX—it offers futures and options contracts tied to interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.

The company also provides clearing and settlement services, market data and related products. Its electronic trading platform, CME Globex, supports access to its markets by participants around the world, alongside its open-outcry and privately negotiated trading services.

CME Group was formed in 2007 through the merger of the Chicago Mercantile Exchange and the Chicago Board of Trade, institutions with roots in the 19th century.

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