Beacon Pointe Advisors LLC Invests $2.88 Million in CME Group Inc. $CME

Key Points

• Beacon Pointe Advisors purchased 13,046 CME Group shares worth approximately $2.88 million, while institutional investors collectively own 87.75% of the company.
• CME Group beat quarterly expectations with $2.99 EPS and $1.71 billion in revenue, and declared a $1.30 quarterly dividend, equivalent to a 1.8% yield.
• Analyst sentiment is mixed: CME has a consensus “Hold” rating and an average price target of $288.56, close to its reported trading price of $285.80.

Beacon Pointe Advisors LLC purchased a new stake in CME Group Inc. (NASDAQ:CME - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 13,046 shares of the financial services provider's stock, valued at approximately $2,881,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. bought a new position in CME Group in the 2nd quarter worth about $6,749,965,000. State Street Corp boosted its position in shares of CME Group by 0.4% in the fourth quarter. State Street Corp now owns 16,144,525 shares of the financial services provider's stock valued at $4,408,747,000 after acquiring an additional 56,725 shares during the period. Norges Bank purchased a new position in CME Group during the fourth quarter valued at approximately $1,523,241,000. Bank of New York Mellon Corp grew its stake in CME Group by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider's stock valued at $1,344,776,000 after acquiring an additional 134,242 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in CME Group by 5.4% during the 4th quarter. Raymond James Financial Inc. now owns 4,319,763 shares of the financial services provider's stock worth $1,179,858,000 after acquiring an additional 222,890 shares during the period. 87.75% of the stock is currently owned by institutional investors.

CME Group Trading Up 1.7%

CME stock opened at $285.80 on Friday. The company has a market capitalization of $102.77 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 3.40 and a beta of 0.23. 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 Inc. has a one year low of $218.31 and a one year high of $329.16. The company's 50 day moving average price is $253.80 and its two-hundred day moving average price is $279.13.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The company had revenue of $1.71 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter in the prior year, the company earned $2.96 EPS. The firm's revenue was up .8% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be given a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, September 9th. CME Group's dividend payout ratio is presently 44.11%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Piper Sandler cut their price target on shares of CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. UBS Group decreased their price target on shares of CME Group from $310.00 to $260.00 and set a "buy" rating on the stock in a report on Monday, July 6th. Weiss Ratings downgraded CME Group from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. TD Cowen dropped their price objective on CME Group from $323.00 to $273.00 and set a "buy" rating for the company in a research note on Monday, June 22nd. Finally, Morgan Stanley boosted their target price on CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $288.56.

Insider Activity

In related news, Director William R. Shepard acquired 325 shares of CME Group stock in a transaction dated Thursday, June 25th. The shares were purchased at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of the purchase, the director owned 260,442 shares of the company's stock, valued at $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company's stock.

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.

Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source