Concurrent Investment Advisors LLC Cuts Stake in CME Group Inc. (NASDAQ:CME)

Concurrent Investment Advisors LLC cut its position in CME Group Inc. (NASDAQ:CME - Free Report) by 26.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,428 shares of the financial services provider's stock after selling 1,997 shares during the period. Concurrent Investment Advisors LLC's holdings in CME Group were worth $1,440,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank Pictet & Cie Europe AG boosted its stake in CME Group by 29.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 86,941 shares of the financial services provider's stock valued at $20,190,000 after purchasing an additional 19,533 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of CME Group during the fourth quarter valued at $268,000. E Fund Management Co. Ltd. purchased a new stake in shares of CME Group during the fourth quarter valued at $207,000. PNC Financial Services Group Inc. boosted its position in shares of CME Group by 1.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 155,763 shares of the financial services provider's stock valued at $36,173,000 after buying an additional 2,974 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in CME Group by 22.6% in the 4th quarter. Larson Financial Group LLC now owns 2,845 shares of the financial services provider's stock worth $661,000 after buying an additional 525 shares during the last quarter. Institutional investors own 87.75% of the company's stock.

Insider Activity at CME Group

In other news, Director Daniel G. Kaye sold 500 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total value of $141,210.00. Following the completion of the sale, the director owned 3,668 shares of the company's stock, valued at $1,035,916.56. This represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William R. Shepard bought 256 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were bought at an average price of $270.53 per share, for a total transaction of $69,255.68. Following the completion of the acquisition, the director owned 258,196 shares in the company, valued at approximately $69,849,763.88. This trade represents a 0.10% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 13,400 shares of company stock worth $3,680,610. 0.30% of the stock is currently owned by insiders.

CME Group Trading Up 2.1%

NASDAQ:CME opened at $282.55 on Tuesday. CME Group Inc. has a 12-month low of $193.17 and a 12-month high of $290.79. The firm has a market cap of $101.82 billion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 3.75 and a beta of 0.44. 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 $276.69 and a 200 day moving average price of $258.49.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 EPS for the quarter, beating the consensus estimate of $2.61 by $0.19. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.56 billion. CME Group had a net margin of 57.71% and a return on equity of 14.03%. The firm's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 earnings per share. Sell-side analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were issued a $1.25 dividend. The ex-dividend date was Monday, June 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.77%. CME Group's dividend payout ratio is currently 50.30%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CME. Raymond James Financial upgraded CME Group from a "market perform" rating to an "outperform" rating and set a $287.00 price target for the company in a research note on Monday, March 10th. Barclays raised their price target on CME Group from $279.00 to $283.00 and gave the company an "equal weight" rating in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their target price on shares of CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Oppenheimer increased their price target on CME Group from $282.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Finally, Piper Sandler lifted their price objective on shares of CME Group from $275.00 to $283.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $259.87.

About CME Group

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.

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