6,025 Shares in CME Group Inc. $CME Purchased by Kirtland Hills Capital Management LLC

Key Points

• Kirtland Hills Capital Management acquired 6,025 shares of CME Group during the second quarter, valued at approximately $1.33 million. Institutional investors collectively own 87.75% of the company.
• Analyst sentiment is mixed: CME has a consensus “Hold” rating from 18 analysts, with an average price target of $288.56; several firms recently lowered targets, while Morgan Stanley raised its target to $330.
• CME Group exceeded quarterly expectations with adjusted earnings of $2.99 per share and revenue of $1.71 billion. The company also declared a quarterly dividend of $1.30 per share, representing a 1.9% annualized yield.

Kirtland Hills Capital Management LLC acquired a new stake in CME Group Inc. (NASDAQ:CME - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,025 shares of the financial services provider's stock, valued at approximately $1,330,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC raised its position in shares of CME Group by 2,075.0% in the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 83 shares during the period. Elkhorn Partners Limited Partnership bought a new position in CME Group in the 4th quarter worth approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in CME Group in the 4th quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in CME Group during the 2nd quarter valued at $28,000. Finally, Legacy Wealth Managment LLC ID lifted its position in shares of CME Group by 191.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider's stock worth $29,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 87.75% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CME shares. TD Cowen decreased their price objective on CME Group from $323.00 to $273.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Morgan Stanley raised their target price on CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Deutsche Bank Aktiengesellschaft lowered CME Group from a "buy" rating to a "hold" rating and reduced their target price for the company from $286.00 to $270.00 in a report on Wednesday. Wall Street Zen downgraded shares of CME Group from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Finally, Piper Sandler cut their price objective on shares of CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $288.56.

CME Group Price Performance

NASDAQ:CME opened at $274.98 on Friday. The firm has a market capitalization of $98.88 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.20 and a beta of 0.23. CME Group Inc. has a 52-week low of $218.31 and a 52-week high of $329.16. The stock has a fifty day moving average of $251.17 and a 200 day moving average of $279.65. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The company's revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.96 EPS. On average, research analysts expect that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Dividend Announcement

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

Insider Activity at CME Group

In related news, Director William R. Shepard purchased 325 shares of the firm's stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $230.57 per share, with a total value of $74,935.25. Following the acquisition, the director directly owned 260,442 shares of the company's stock, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by insiders.

CME Group Company 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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