CME Group Inc. $CME Holdings Trimmed by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management reduced its CME Group stake by 1% in the third quarter, selling 5,122 shares and retaining 531,932 shares valued at approximately $139.4 million. Institutional investors collectively own 87.75% of CME’s outstanding stock.
• CME shares rose 2.4% to $276.82, while the company’s latest quarterly results exceeded expectations with $2.99 in earnings per share and $1.71 billion in revenue. CME also maintains a $1.30 quarterly dividend, equivalent to a 1.9% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $291.62; recent targets range from $270 to $330. CEO Terrence Duffy sold shares, while director William Shepard made a small purchase.

Hamlin Capital Management LLC lowered its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 1.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 531,932 shares of the financial services provider's stock after selling 5,122 shares during the period. CME Group makes up 3.4% of Hamlin Capital Management LLC's portfolio, making the stock its 16th biggest position. Hamlin Capital Management LLC owned about 0.15% of CME Group worth $139,356,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Apeiron RIA LLC purchased a new stake in CME Group in the 3rd quarter worth about $724,000. Apella Capital LLC purchased a new position in CME Group during the 3rd quarter valued at about $1,714,000. Avidian Wealth Enterprises LLC increased its holdings in shares of CME Group by 3.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 6,746 shares of the financial services provider's stock valued at $1,767,000 after purchasing an additional 221 shares during the period. Quintet Private Bank Europe S.A. lifted its position in shares of CME Group by 1,071.4% in the third quarter. Quintet Private Bank Europe S.A. now owns 1,640 shares of the financial services provider's stock worth $430,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in shares of CME Group during the third quarter worth approximately $97,000. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Stock Up 2.4%

CME stock traded up $6.55 during trading hours on Thursday, hitting $276.82. The company's stock had a trading volume of 1,082,119 shares, compared to its average volume of 2,518,381. The stock has a 50 day moving average price of $271.63 and a two-hundred day moving average price of $271.41. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The company has a market capitalization of $99.54 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 3.54 and a beta of 0.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. CME Group's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.96 EPS. On average, equities research analysts expect that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were given a $1.30 dividend. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.9%. CME Group's payout ratio is currently 44.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CME shares. Keefe, Bruyette & Woods raised shares of CME Group from a "market perform" rating to an "outperform" rating and set a $305.00 price objective on the stock in a research report on Thursday, June 18th. UBS Group lifted their target price on shares of CME Group from $260.00 to $270.00 and gave the company a "neutral" rating in a research note on Monday. TD Cowen boosted their price target on shares of CME Group from $292.00 to $300.00 and gave the company a "buy" rating in a report on Monday. Raymond James Financial reaffirmed an "outperform" rating and issued a $320.00 price target on shares of CME Group in a research note on Thursday, July 2nd. Finally, Morgan Stanley lifted their price objective on CME Group from $324.00 to $330.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $291.62.

Insiders Place Their Bets

In related news, CEO Terrence A. Duffy sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $274.44, for a total value of $4,116,600.00. Following the completion of the sale, the chief executive officer directly owned 40,630 shares in the company, valued at approximately $11,150,497.20. The trade was a 26.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William R. Shepard bought 293 shares of the firm's stock in a transaction on Friday, September 25th. The shares were bought at an average cost of $268.76 per share, with a total value of $78,746.68. Following the transaction, the director directly owned 263,289 shares of the company's stock, valued at approximately $70,761,551.64. This trade represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.30% of the company's stock.

CME Group Profile

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group's history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.

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.