CME Group Inc. $CME Shares Sold by Ninety One SA Pty Ltd

Key Points

• Ninety One SA Pty Ltd reduced its CME Group position by 57.9% in the third quarter, selling 4,687 shares and retaining 3,412 shares worth approximately $901,000. Institutional investors and hedge funds collectively own 87.75% of CME’s stock.
• CME Group reported quarterly earnings of $2.99 per share, exceeding the $2.91 analyst consensus, while revenue reached $1.71 billion. The company also maintains a quarterly dividend of $1.30 per share, equivalent to a 1.8% yield.
• CME shares rose 0.7% to $287.58, while analyst sentiment remained mixed, with an overall “Hold” rating and an average price target of $292.94.

Ninety One SA Pty Ltd lowered its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 57.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,412 shares of the financial services provider's stock after selling 4,687 shares during the quarter. Ninety One SA Pty Ltd's holdings in CME Group were worth $901,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of CME. Bridgewater Advisors Inc. acquired a new stake in CME Group during the 2nd quarter worth approximately $612,000. The Manufacturers Life Insurance Company bought a new position in CME Group in the second quarter valued at approximately $53,671,000. Haverford Trust Co bought a new position in CME Group in the second quarter valued at approximately $13,818,000. Bowie Capital Management LLC acquired a new position in shares of CME Group in the second quarter valued at approximately $22,991,000. Finally, GSA Capital Partners LLP acquired a new position in shares of CME Group in the second quarter valued at approximately $2,807,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CME Group

In related news, Director William Shepard purchased 293 shares of CME Group stock in a transaction that occurred on Friday, September 25th. The stock was purchased at an average cost of $268.76 per share, with a total value of $78,746.68. Following the completion of the transaction, the director 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terrence Duffy sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $274.44, for a total value of $4,116,600.00. Following the completion of the transaction, the chief executive officer owned 40,630 shares of the company's stock, valued at approximately $11,150,497.20. This represents a 26.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company's stock.

CME Group Stock Up 0.7%

Shares of NASDAQ CME traded up $2.00 during midday trading on Thursday, reaching $287.58. The company's stock had a trading volume of 698,158 shares, compared to its average volume of 2,510,764. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The stock has a market capitalization of $103.41 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 3.64 and a beta of 0.24. The stock has a 50 day simple moving average of $273.01 and a 200-day simple moving average of $270.63.

CME Group (NASDAQ:CME - Get Free Report) last released its 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 during 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%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.96 earnings per share. Equities research analysts predict that CME Group Inc. will post 12.29 earnings per share for the current year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Wednesday, September 9th were issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Wednesday, September 9th. CME Group's dividend payout ratio is presently 44.11%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CME. Raymond James Financial restated an "outperform" rating and set a $320.00 price objective on shares of CME Group in a report on Thursday, July 2nd. Piper Sandler cut their price objective on shares of CME Group from $329.00 to $295.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft lowered shares of CME Group from a "buy" rating to a "hold" rating and reduced their target price for the stock from $286.00 to $270.00 in a research note on Wednesday, August 19th. Morgan Stanley increased their target price on CME Group from $330.00 to $337.00 and gave the stock an "overweight" rating in a report on Friday, October 9th. Finally, Keefe, Bruyette & Woods raised CME Group from a "market perform" rating to an "outperform" rating and set a $305.00 price target on the stock in a research note on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $292.94.

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.

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