CME Group Inc. $CME Stock: International Assets Investment Management LLC Raises Position

Key Points

• International Assets Investment Management LLC increased its CME Group position by 1,125% in the third quarter, reaching 30,000 shares valued at approximately $7.86 million. Institutional investors collectively own 87.75% of the company.
• CME Group reported quarterly earnings of $3.02 per share, beating estimates of $2.99, while revenue rose 10.6% year over year to $1.74 billion. The company also pays a $1.30 quarterly dividend, equivalent to a 1.7% yield.
• Analyst sentiment is mixed: CME has an average “Hold” rating and a consensus price target of $314.44, while shares recently opened at $303.14 within a 12-month range of $218.31 to $329.16.

International Assets Investment Management LLC lifted its stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 1,125.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,000 shares of the financial services provider's stock after acquiring an additional 27,551 shares during the period. International Assets Investment Management LLC's holdings in CME Group were worth $7,859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of CME Group during the second quarter worth about $6,749,965,000. Bank of America Corp DE grew 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 acquiring an additional 1,130,587 shares during the period. Bank of New York Mellon Corp purchased a new stake in CME Group in the 2nd quarter worth approximately $867,313,000. Alphabet Inc. acquired a new position in CME Group in the 2nd quarter valued at $769,376,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in CME Group in the 2nd quarter valued at $629,771,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insiders Place Their Bets

In other CME Group news, insider Sunil Cutinho sold 5,000 shares of the business's stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $298.70, for a total value of $1,493,500.00. Following the transaction, the insider owned 20,037 shares in the company, valued at $5,985,051.90. The trade was a 19.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Elizabeth A. Cook sold 500 shares of the business's stock in a transaction 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 owned 17,916 shares in the company, valued at $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. In the last ninety days, insiders sold 20,900 shares of company stock valued at $5,871,155. Corporate insiders own 0.30% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on CME shares. Deutsche Bank Aktiengesellschaft downgraded 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 report on Wednesday, August 19th. Barclays increased their price objective on shares of CME Group from $281.00 to $321.00 and gave the stock an "equal weight" rating in a report on Thursday, October 22nd. Wells Fargo & Company raised their target price on shares of CME Group from $315.00 to $333.00 and gave the stock an "overweight" rating in a research report on Thursday, October 22nd. Piper Sandler restated an "overweight" rating and issued a $330.00 target price (up from $295.00) on shares of CME Group in a report on Thursday, October 22nd. Finally, TD Cowen upped their price target on shares of CME Group from $292.00 to $300.00 and gave the stock a "buy" rating in a research report on Monday, October 5th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, CME Group currently has an average rating of "Hold" and an average target price of $314.44.

CME Group Price Performance

Shares of NASDAQ CME opened at $303.14 on Monday. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16. The company has a market cap of $108.50 billion, a P/E ratio of 24.87, a P/E/G ratio of 3.70 and a beta of 0.24. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average price of $280.34 and a 200 day moving average price of $280.01.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.03. CME Group had a return on equity of 16.23% and a net margin of 63.33%. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the business earned $2.68 earnings per share. The company's revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that CME Group Inc. will post 12.34 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were paid a $1.30 dividend. The ex-dividend date was Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.7%. CME Group's dividend payout ratio is 42.66%.

About CME Group

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.

Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME - Free Report).

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.