8,875 CME Group Inc. $CME Shares Sold by Sanders Capital LLC

Key Points

• Sanders Capital trimmed its CME Group stake by 8,875 shares, or 0.2%, leaving it with 5.06 million shares valued at about $1.33 billion. Institutional investors collectively own 87.75% of the stock.
• CME Group reported quarterly EPS of $3.02, topping the $2.99 consensus, while revenue rose 10.6% year over year to $1.74 billion. The company declared a quarterly dividend of $1.30 per share, equivalent to a 1.7% yield.
• Analysts’ consensus rating was “Hold,” with an average price target of $314.44; CME shares were trading at $305.89 in the article’s cited session.

Sanders Capital LLC cut its stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,058,865 shares of the financial services provider's stock after selling 8,875 shares during the quarter. CME Group accounts for approximately 1.3% of Sanders Capital LLC's holdings, making the stock its 25th biggest position. Sanders Capital LLC owned approximately 1.41% of CME Group worth $1,325,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in CME Group during the 2nd quarter worth $6,749,965,000. Bank of America Corp DE boosted its holdings in shares of CME Group by 39.1% in the first quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider's stock valued at $1,187,290,000 after acquiring an additional 1,130,587 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of CME Group in the second quarter valued at about $867,313,000. Alphabet Inc. purchased a new stake in shares of CME Group in the second quarter valued at about $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of CME Group during the second quarter worth about $629,771,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

CME Group Price Performance

Shares of CME traded down $1.35 during trading hours on Friday, reaching $305.89. The company had a trading volume of 1,452,885 shares, compared to its average volume of 2,141,975. The firm has a 50 day simple moving average of $283.10 and a 200-day simple moving average of $280.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $109.49 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 3.74 and a beta of 0.15. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $3.02 EPS for the quarter, beating the consensus estimate of $2.99 by $0.03. The firm had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.71 billion. CME Group had a net margin of 63.33% and a return on equity of 16.23%. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.68 earnings per share. Research analysts expect that CME Group Inc. will post 12.34 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Friday, December 11th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Friday, December 11th. CME Group's dividend payout ratio (DPR) is presently 42.66%.

Insider Activity at CME Group

In related news, Director William Shepard purchased 293 shares of CME Group stock in a transaction dated Friday, September 25th. The stock was bought at an average cost of $268.76 per share, for a total transaction of $78,746.68. Following the transaction, the director owned 263,289 shares in the company, valued at approximately $70,761,551.64. The trade was a 0.11% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Martin Gepsman sold 400 shares of the business's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $302.50, for a total value of $121,000.00. Following the sale, the director directly owned 25,244 shares in the company, valued at $7,636,310. This trade represents a 1.56% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 32,979 shares of company stock worth $9,552,762. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

CME Group Company Profile

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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