Commerce Bank Reduces Position in CME Group Inc. (NASDAQ:CME)

Key Points

• Commerce Bank reduced its stake in CME Group Inc. by 6.4% during the first quarter, now holding 152,521 shares worth approximately $40.46 million.
• Several institutional investors significantly increased their holdings in CME Group, with Price T Rowe Associates boosting their stake by 89.9% in the fourth quarter.
• CME Group's most recent earnings report showed an EPS of $2.96, exceeding estimates by $0.05, while quarterly revenue rose 10.4% year-over-year to $1.69 billion.

Commerce Bank cut its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 6.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,521 shares of the financial services provider's stock after selling 10,379 shares during the quarter. Commerce Bank's holdings in CME Group were worth $40,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CME. Wayfinding Financial LLC bought a new stake in CME Group in the 1st quarter valued at about $25,000. Cornerstone Planning Group LLC increased its holdings in shares of CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after purchasing an additional 98 shares during the period. Alpine Bank Wealth Management acquired a new stake in CME Group in the 1st quarter valued at $32,000. Finally, Financial Gravity Asset Management Inc. bought a new stake in CME Group during the 1st quarter valued at $32,000. Institutional investors own 87.75% of the company's stock.

Insider Activity

In other CME Group news, General Counsel Jonathan L. Marcus sold 390 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $277.50, for a total value of $108,225.00. Following the sale, the general counsel 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 legal filing with the SEC, which is available at this link. Also, Director Daniel G. Kaye sold 500 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $282.42, for a total value of $141,210.00. Following the transaction, the director directly owned 3,668 shares of the company's stock, valued at $1,035,916.56. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,400 shares of company stock worth $2,881,130. Company insiders own 0.30% of the company's stock.

CME Group Stock Performance

NASDAQ CME traded up $2.48 on Friday, hitting $280.76. 3,011,041 shares of the stock traded hands, compared to its average volume of 2,073,115. The firm has a market capitalization of $101.17 billion, a price-to-earnings ratio of 27.18, a PEG ratio of 4.99 and a beta of 0.44. The business's fifty day moving average is $276.07 and its two-hundred day moving average is $264.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a 12 month low of $196.62 and a 12 month high of $290.79.

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

CME Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Monday, June 9th. CME Group's payout ratio is 48.40%.

Analyst Ratings Changes

CME has been the topic of a number of recent research reports. Morgan Stanley lifted their price objective on shares of CME Group from $301.00 to $304.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Piper Sandler boosted their price objective on CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. JPMorgan Chase & Co. cut their target price on CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a research report on Thursday, April 24th. Erste Group Bank lowered CME Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a research note on Thursday, April 24th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $261.93.

CME Group Company 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.