Elevation Point Wealth Partners LLC Has $3.62 Million Stake in CME Group Inc. $CME

Key Points

• Elevation Point Wealth Partners LLC boosted its CME Group stake by 728.1% in the first quarter, ending with 12,272 shares valued at about $3.63 million.
• CME Group reported stronger-than-expected quarterly results, with EPS of $3.36 and revenue of $1.88 billion, both above analyst estimates.
• Analyst sentiment remains generally positive despite some target-price cuts: the stock has a Moderate Buy consensus rating, with 12 buy ratings, four holds, and two sells, and an average price target of $300.94.

Elevation Point Wealth Partners LLC raised its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 728.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,272 shares of the financial services provider's stock after purchasing an additional 10,790 shares during the period. Elevation Point Wealth Partners LLC's holdings in CME Group were worth $3,625,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Asset Dedication LLC grew its position in CME Group by 64.9% during the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider's stock worth $26,000 after buying an additional 37 shares in the last quarter. FNY Investment Advisers LLC bought a new position in CME Group during the 4th quarter worth $27,000. Elkhorn Partners Limited Partnership acquired a new position in CME Group in the 4th quarter valued at $27,000. Hilton Head Capital Partners LLC acquired a new position in CME Group in the 4th quarter valued at $28,000. Finally, Legacy Wealth Managment LLC ID lifted its position in shares of CME Group by 191.9% during the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 71 shares during the period. Institutional investors and hedge funds own 87.75% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CME shares. TD Cowen reduced their target price on CME Group from $323.00 to $273.00 and set a "buy" rating on the stock in a report on Monday, June 22nd. UBS Group reaffirmed an "overweight" rating on shares of CME Group in a research note on Monday, June 15th. Barclays cut their price objective on shares of CME Group from $343.00 to $316.00 and set an "equal weight" rating for the company in a research report on Thursday, April 23rd. Raymond James Financial reaffirmed an "outperform" rating and issued a $320.00 target price on shares of CME Group in a report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on CME Group from $267.00 to $245.00 and set a "sell" rating for the company in a research report on Tuesday. Twelve research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $300.94.

Insiders Place Their Bets

In other news, Director William R. Shepard acquired 325 shares of the stock in a transaction dated Thursday, June 25th. The stock was bought at an average price of $230.57 per share, with a total value of $74,935.25. Following the completion of the purchase, the director directly owned 260,442 shares of the company's stock, valued at $60,050,111.94. This represents a 0.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Terrence A. Duffy sold 35,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the completion of the transaction, the chief executive officer owned 55,630 shares of the company's stock, valued at approximately $16,606,111.30. This trade represents a 38.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.30% of the company's stock.

CME Group Stock Performance

Shares of CME Group stock opened at $236.60 on Friday. CME Group Inc. has a fifty-two week low of $218.31 and a fifty-two week high of $329.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $85.73 billion, a P/E ratio of 20.19, a P/E/G ratio of 2.65 and a beta of 0.25. The company's 50 day moving average price is $267.17 and its two-hundred day moving average price is $284.28.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.11 by $0.25. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business earned $2.80 earnings per share. The company's revenue for the quarter was up 14.5% compared to the same quarter last year. On average, equities analysts forecast that CME Group Inc. will post 12.28 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Tuesday, June 9th were given a dividend of $1.30 per share. The ex-dividend date was Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a yield of 2.2%. CME Group's payout ratio is currently 44.37%.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world's largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company's core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.

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