CME Group Inc. $CME Stock: AlphaStar Capital Management LLC Boosts Position

Key Points

• AlphaStar Capital Management more than doubled its CME Group position in the third quarter, increasing holdings by 110.1% to 9,811 shares valued at approximately $2.57 million. Institutional investors collectively own 87.75% of the company.
• CME Group reported quarterly EPS of $2.99, exceeding estimates of $2.91, while revenue reached $1.71 billion versus expectations of $1.68 billion. The company also maintains a quarterly dividend of $1.30, equivalent to a 1.8% annual yield.
• Analyst sentiment is mixed, with nine Buy, six Hold, and three Sell ratings; the consensus rating is Hold with an average price target of $292.94. CME shares opened at $293.87, near the consensus target.

AlphaStar Capital Management LLC grew its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 110.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,811 shares of the financial services provider's stock after purchasing an additional 5,141 shares during the period. AlphaStar Capital Management LLC's holdings in CME Group were worth $2,570,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. BlackRock Inc. purchased a new stake in CME Group during the 2nd quarter worth about $6,749,965,000. Bank of America Corp DE boosted its stake in CME Group by 39.1% in the 1st quarter. Bank of America Corp DE now owns 4,019,944 shares of the financial services provider's stock worth $1,187,290,000 after purchasing an additional 1,130,587 shares during the period. Bank of New York Mellon Corp bought a new position in CME Group in the 2nd quarter worth about $867,313,000. Alphabet Inc. bought a new position in CME Group in the 2nd quarter worth about $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in CME Group during the 2nd quarter valued at about $629,771,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William R. Shepard bought 293 shares of the company's stock in a transaction on Friday, September 25th. The stock was acquired at an average cost of $268.76 per share, for a total transaction of $78,746.68. Following the completion of the transaction, the director directly owned 263,289 shares in the company, valued at $70,761,551.64. This trade represents a 0.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Elizabeth A. Cook sold 500 shares of the business's stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $280.11, for a total transaction of $140,055.00. Following the completion of the transaction, the director directly owned 17,916 shares of the company's stock, valued at approximately $5,018,450.76. This represents a 2.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.30% of the stock is owned by company insiders.

CME Group Stock Performance

NASDAQ:CME opened at $293.87 on Friday. The business's 50-day moving average price is $274.12 and its two-hundred day moving average price is $270.77. CME Group Inc. has a twelve month low of $218.31 and a twelve month high of $329.16. The stock has a market cap of $105.67 billion, a P/E ratio of 24.93, a PEG ratio of 3.85 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 issued its quarterly earnings results 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. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%. The company's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.96 EPS. As a group, equities analysts predict that CME Group Inc. will post 12.30 EPS for the current fiscal year.

CME Group Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CME. Morgan Stanley lifted their target price on CME Group from $330.00 to $337.00 and gave the company an "overweight" rating in a report on Friday, October 9th. TD Cowen increased their price target on shares of CME Group from $292.00 to $300.00 and gave the stock a "buy" rating in a report on Monday, October 5th. Bank of America increased their price target on shares of CME Group from $226.00 to $230.00 and gave the stock an "underperform" rating in a report on Thursday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of CME Group from $249.00 to $250.00 and gave the company an "underweight" rating in a research report on Thursday, July 23rd. Finally, Barclays raised their price objective on shares of CME Group from $270.00 to $281.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 7th. 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's stock. According to data from MarketBeat.com, the company 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 provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.

CME Group's exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.

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