Callan Family Office LLC Sells 7,320 Shares of CME Group Inc. (NASDAQ:CME)

Key Points

• Callan Family Office LLC reduced its stake in CME Group Inc. by 74.1%, selling 7,320 shares and leaving it with 2,564 shares valued at $680,000.
• CME Group reported earnings of $2.96 per share, exceeding analyst expectations of $2.91, with quarterly revenue of $1.69 billion, up 10.4% year-over-year.
• The company has announced a quarterly dividend of $1.25 per share, translating to an annualized dividend yield of 1.8%, with a payout ratio of 48.40%.

Callan Family Office LLC lessened its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 74.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,564 shares of the financial services provider's stock after selling 7,320 shares during the quarter. Callan Family Office LLC's holdings in CME Group were worth $680,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Wayfinding Financial LLC bought a new position in shares of CME Group in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC lifted its position in CME Group by 122.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after buying an additional 55 shares in the last quarter. Golden State Wealth Management LLC lifted its position in CME Group by 612.5% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after buying an additional 98 shares in the last quarter. Alpine Bank Wealth Management bought a new position in shares of CME Group during the 1st quarter valued at $32,000. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of CME Group in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 87.75% of the company's stock.

Insider Buying and Selling at CME Group

In related news, Director Daniel G. Kaye sold 500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total value of $141,210.00. Following the sale, the director directly owned 3,668 shares of the company's stock, valued at $1,035,916.56. This trade represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Jonathan L. Marcus sold 390 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total transaction of $108,225.00. Following the completion of the sale, the general counsel directly owned 6,708 shares in the company, valued at $1,861,470. This represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,450 shares of company stock worth $676,663 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays set a $298.00 target price on shares of CME Group and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods boosted their target price on shares of CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. dropped their target price on shares of CME Group from $223.00 to $211.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Citigroup boosted their target price on shares of CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Piper Sandler boosted their price target on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $261.93.

CME Group Trading Down 0.3%

NASDAQ:CME traded down $0.78 during mid-day trading on Friday, hitting $273.92. 2,055,786 shares of the company's stock were exchanged, compared to its average volume of 2,086,143. The company has a 50 day simple moving average of $275.52 and a 200-day simple moving average of $267.37. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a fifty-two week low of $204.16 and a fifty-two week high of $290.79. The firm has a market capitalization of $98.72 billion, a P/E ratio of 26.52, a PEG ratio of 4.86 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.91 by $0.05. The firm 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%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.56 EPS. As a group, research analysts expect that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Announces Dividend

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. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Tuesday, September 9th. CME Group's payout ratio is 48.40%.

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.