AlTi Global Inc. Sells 15,425 Shares of CME Group Inc. $CME

Key Points

• AlTi Global Inc. reduced its stake in CME Group by 27.7% in Q1, selling 15,425 shares and ending with holdings valued at approximately $10.67 million.
• Insider transactions include a purchase of 256 shares by Director William R. Shepard and a sale of 11,896 shares by insider Sunil Cutinho, indicating mixed insider activity.
• CME Group recently declared a quarterly dividend of $1.25 per share, with an annualized yield of 1.9%, and it has reported earnings exceeding analyst expectations for the last quarter.

AlTi Global Inc. lessened its holdings in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 27.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,212 shares of the financial services provider's stock after selling 15,425 shares during the quarter. AlTi Global Inc.'s holdings in CME Group were worth $10,667,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CME. Wayfinding Financial LLC bought a new position in CME Group during the first quarter worth about $25,000. Cornerstone Planning Group LLC boosted its position in CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after purchasing an additional 55 shares during the period. Golden State Wealth Management LLC boosted its position in CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after purchasing an additional 98 shares during the period. Alpine Bank Wealth Management bought a new position in CME Group during the first quarter worth about $32,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of CME Group in the first quarter valued at approximately $32,000. Institutional investors own 87.75% of the company's stock.

CME Group Price Performance

CME traded down $5.49 on Friday, reaching $261.94. The company had a trading volume of 1,633,679 shares, compared to its average volume of 1,882,480. The business has a 50 day simple moving average of $274.96 and a 200 day simple moving average of $269.86. The company has a market cap of $94.40 billion, a price-to-earnings ratio of 25.36, a P/E/G ratio of 4.84 and a beta of 0.43. 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 Inc. has a 52-week low of $212.38 and a 52-week high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.05. The business had revenue of $1.69 billion for 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%. CME Group's quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $2.56 earnings per share. As a group, sell-side analysts anticipate that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Dividend Announcement

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

Insiders Place Their Bets

In other CME Group news, insider Sunil Cutinho sold 11,896 shares of CME Group stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction 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 trade represents a 40.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William R. Shepard purchased 256 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were acquired at an average cost of $270.53 per share, for a total transaction of $69,255.68. Following the completion of the purchase, the director directly owned 258,196 shares of the company's stock, valued at approximately $69,849,763.88. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays set a $298.00 price objective on shares of CME Group and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen lowered shares of CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Erste Group Bank lowered shares of CME Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Citigroup raised their price objective on shares of CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Piper Sandler raised their price objective on shares of CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $261.93.

CME Group Profile

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.