Bearing Point Capital LLC Reduces Position in CME Group Inc. (NASDAQ:CME)

Key Points

• Bearing Point Capital LLC reduced its stake in CME Group Inc. by 17.8%, now holding 28,207 shares valued at $7.48 million.
• Institutional investors collectively own 87.75% of CME Group’s stock, with significant boosts in holdings from firms like Price T Rowe Associates and Bessemer Group.
• CME Group's latest quarterly earnings showed an EPS of $2.96, exceeding analysts' expectations and marking a 10.4% year-over-year revenue increase to $1.69 billion.

Bearing Point Capital LLC lessened its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 17.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,207 shares of the financial services provider's stock after selling 6,110 shares during the quarter. CME Group comprises 1.6% of Bearing Point Capital LLC's investment portfolio, making the stock its 15th biggest position. Bearing Point Capital LLC's holdings in CME Group were worth $7,483,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. HB Wealth Management LLC increased its stake in shares of CME Group by 17.9% in the first quarter. HB Wealth Management LLC now owns 7,736 shares of the financial services provider's stock valued at $2,052,000 after buying an additional 1,175 shares during the period. Mediolanum International Funds Ltd increased its stake in shares of CME Group by 10.6% in the first quarter. Mediolanum International Funds Ltd now owns 5,306 shares of the financial services provider's stock valued at $1,391,000 after buying an additional 510 shares during the period. Benedict Financial Advisors Inc. boosted its holdings in CME Group by 2.7% in the first quarter. Benedict Financial Advisors Inc. now owns 29,643 shares of the financial services provider's stock valued at $7,864,000 after acquiring an additional 777 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in CME Group by 14.5% in the first quarter. Baillie Gifford & Co. now owns 454,643 shares of the financial services provider's stock valued at $120,612,000 after acquiring an additional 57,699 shares during the last quarter. Finally, Caliber Wealth Management LLC KS bought a new stake in CME Group in the first quarter valued at approximately $3,761,000. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Trading Up 1.1%

CME Group stock traded up $2.96 during trading on Wednesday, reaching $277.56. 473,392 shares of the company were exchanged, compared to its average volume of 2,369,131. CME Group Inc. has a 52-week low of $193.25 and a 52-week high of $290.79. The company has a market capitalization of $100.02 billion, a P/E ratio of 26.87, a PEG ratio of 4.87 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The stock's 50 day simple moving average is $276.29 and its two-hundred day simple moving average is $263.11.

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

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Monday, June 9th were paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.80%. The ex-dividend date was Monday, June 9th. CME Group's dividend payout ratio is presently 48.40%.

Insider Activity

In related news, General Counsel Jonathan L. Marcus sold 390 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $277.50, for a total value of $108,225.00. Following the completion of the transaction, the general counsel directly owned 6,708 shares of the company's stock, valued at $1,861,470. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel G. Kaye sold 500 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $282.42, for a total value of $141,210.00. Following the sale, the director owned 3,668 shares in the company, valued at $1,035,916.56. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,400 shares of company stock worth $2,881,130 over the last quarter. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CME has been the topic of several analyst reports. Bank of America upped their target price on CME Group from $200.00 to $219.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Citigroup increased their price target on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen cut CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Barclays set a $298.00 price target on CME Group and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Erste Group Bank cut CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, CME Group presently has an average rating of "Hold" and an average target price of $261.93.

CME Group 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.