4,500 Shares in CME Group Inc. $CME Acquired by Mill Capital Management LLC

Key Points

• Mill Capital Management acquired 4,500 CME Group shares worth approximately $994,000 in the second quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.
• Analyst sentiment is mixed, with ten Buy ratings, five Holds and three Sells; CME has an overall “Hold” rating and an average price target of $291.81.
• CME Group beat quarterly earnings and revenue expectations, reporting $2.99 in adjusted EPS and $1.71 billion in revenue. The company also declared a quarterly dividend of $1.30 per share, equivalent to a 1.9% annualized yield.

Mill Capital Management LLC bought a new stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,500 shares of the financial services provider's stock, valued at approximately $994,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC raised 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 worth $2,660,000 after purchasing an additional 1,037 shares during the period. Marshall Wace LLP boosted its position in shares of CME Group by 103.1% in the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider's stock valued at $1,018,000 after purchasing an additional 121,707 shares during the period. Federated Hermes Inc. increased its stake 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 position in CME Group in the 2nd quarter worth about $992,000. Finally, The Manufacturers Life Insurance Company raised its holdings in CME Group by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider's stock worth $79,344,000 after buying an additional 7,397 shares during the period. 87.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on CME shares. Wall Street Zen lowered shares of CME Group from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 1st. Erste Group Bank lowered shares of CME Group from a "buy" rating to a "hold" rating in a report on Friday, June 5th. Rothschild & Co Redburn upgraded shares of CME Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $316.00 to $323.00 in a research report on Thursday, June 11th. Morgan Stanley raised their price objective on shares of CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Finally, TD Cowen lowered their price objective on shares of CME Group from $323.00 to $273.00 and set a "buy" rating on the stock in a research report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $291.81.

Insider Buying and Selling

In other CME Group news, insider Hilda Harris Piell sold 5,753 shares of the company's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $304.63, for a total value of $1,752,536.39. Following the transaction, the insider owned 27,702 shares in the company, valued at approximately $8,438,860.26. This represents a 17.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William R. Shepard bought 325 shares of the business's stock in a transaction on Thursday, June 25th. The stock was bought at an average price of $230.57 per share, with a total value of $74,935.25. Following the transaction, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.30% of the company's stock.

CME Group Trading Up 1.0%

Shares of NASDAQ CME opened at $269.80 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16. The business has a 50-day moving average price of $250.20 and a two-hundred day moving average price of $280.22. The firm has a market capitalization of $97.01 billion, a PE ratio of 22.88, a PEG ratio of 3.11 and a beta of 0.23.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results 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. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.96 EPS. As a group, analysts predict that CME Group Inc. will post 12.27 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. CME Group's payout ratio is presently 44.11%.

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.

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