Chevy Chase Trust Holdings LLC Has $53.55 Million Stock Position in CME Group Inc. $CME

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in CME Group Inc. by 0.6%, owning approximately $53.55 million worth of stock after acquiring additional shares during the second quarter.
• Insider trading activity included Timothy Francis Mccourt selling 379 shares, while Director William R. Shepard purchased 262 shares, reflecting differing sentiments on the company's future.
• Several brokerages, including Citigroup and Piper Sandler, have raised their price targets for CME Group, indicating a generally optimistic outlook on the stock's performance.

Chevy Chase Trust Holdings LLC increased its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 0.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 194,299 shares of the financial services provider's stock after acquiring an additional 1,225 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of CME Group worth $53,553,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Great Lakes Advisors LLC lifted its stake in shares of CME Group by 2.3% in the first quarter. Great Lakes Advisors LLC now owns 1,661 shares of the financial services provider's stock worth $441,000 after acquiring an additional 37 shares during the period. Beaumont Financial Advisors LLC lifted its stake in shares of CME Group by 2.0% in the second quarter. Beaumont Financial Advisors LLC now owns 1,952 shares of the financial services provider's stock worth $538,000 after acquiring an additional 38 shares during the period. Trifecta Capital Advisors LLC increased its holdings in CME Group by 59.2% in the second quarter. Trifecta Capital Advisors LLC now owns 113 shares of the financial services provider's stock worth $31,000 after purchasing an additional 42 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in CME Group by 4.0% in the first quarter. OneAscent Financial Services LLC now owns 1,106 shares of the financial services provider's stock worth $293,000 after purchasing an additional 43 shares in the last quarter. Finally, Highline Wealth Partners LLC boosted its holdings in shares of CME Group by 84.3% during the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider's stock worth $26,000 after buying an additional 43 shares in the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Timothy Francis Mccourt sold 379 shares of the company's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total transaction of $98,475.57. Following the completion of the sale, the insider owned 9,508 shares in the company, valued at approximately $2,470,463.64. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William R. Shepard purchased 262 shares of the firm's stock in a transaction that occurred on Thursday, September 25th. The shares were bought at an average price of $265.19 per share, with a total value of $69,479.78. Following the acquisition, the director directly owned 258,459 shares of the company's stock, valued at $68,540,742.21. This represents a 0.10% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 13,043 shares of company stock worth $3,527,956. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on CME. Citigroup raised shares of CME Group from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $275.00 to $300.00 in a research report on Thursday, September 25th. Keefe, Bruyette & Woods raised their price objective on shares of CME Group from $283.00 to $287.00 and gave the stock a "market perform" rating in a research report on Monday, October 13th. Barclays reduced their price objective on shares of CME Group from $298.00 to $280.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Piper Sandler raised their price objective on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Morgan Stanley raised their price objective on shares of CME Group from $303.00 to $312.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, CME Group has a consensus rating of "Hold" and an average price target of $283.71.

CME Group Trading Up 2.1%

NASDAQ CME opened at $267.93 on Friday. The company has a market cap of $96.56 billion, a price-to-earnings ratio of 25.94, a P/E/G ratio of 6.03 and a beta of 0.41. CME Group Inc. has a 52 week low of $213.94 and a 52 week high of $290.79. The business has a 50 day moving average price of $267.30 and a 200-day moving average price of $271.32. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.91 by $0.05. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.56 earnings per share. As a group, equities analysts expect that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Tuesday, September 9th were issued a dividend of $1.25 per share. The ex-dividend date was Tuesday, September 9th. This represents a $5.00 annualized dividend and a yield of 1.9%. CME Group's dividend payout ratio is 48.40%.

CME Group Company 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.

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