Focus Financial Network Inc. Purchases New Position in CME Group Inc. $CME

Key Points

• Focus Financial Network purchased 5,777 shares of CME Group worth approximately $1.51 million during the third quarter. Institutional investors collectively own 87.75% of the company.
• CME Group exceeded quarterly expectations, reporting $2.99 in earnings per share and $1.71 billion in revenue. The company also maintains a quarterly dividend of $1.30, equivalent to a 1.8% annual yield.
• Analyst sentiment remains mixed, with nine Buy, six Hold and three Sell ratings; the consensus price target is $292.94, close to the reported share price of $289.46.

Focus Financial Network Inc. purchased a new stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,777 shares of the financial services provider's stock, valued at approximately $1,513,000.

A number of other hedge funds also recently made changes to their positions in the business. Whipplewood Advisors LLC grew its holdings in CME Group by 2,075.0% in the 1st quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock worth $26,000 after buying an additional 83 shares in the last quarter. First Community Trust NA bought a new position in CME Group in the 3rd quarter worth approximately $26,000. North Point Portfolio Managers Corp OH acquired a new stake in CME Group in the 3rd quarter valued at approximately $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in CME Group in the 2nd quarter valued at approximately $28,000. Finally, Bayban acquired a new stake in CME Group in the 4th quarter valued at approximately $31,000. Institutional investors own 87.75% of the company's stock.

Insider Transactions at CME Group

In related news, Director Elizabeth A. Cook sold 500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $5,018,450.76. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William R. Shepard bought 293 shares of the firm's stock in a transaction that occurred on Friday, September 25th. The shares were purchased at an average cost of $268.76 per share, with a total value of $78,746.68. Following the purchase, the director directly owned 263,289 shares of the company's stock, valued at approximately $70,761,551.64. This represents a 0.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.30% of the company's stock.

CME Group Price Performance

Shares of NASDAQ:CME opened at $289.46 on Friday. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The stock has a market cap of $104.08 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 3.74 and a beta of 0.24. The stock's 50 day moving average price is $273.52 and its 200 day moving average price is $270.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%. The firm's revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.96 earnings per share. Equities research analysts anticipate that CME Group Inc. will post 12.29 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Wednesday, September 9th. CME Group's payout ratio is currently 44.11%.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Morgan Stanley lifted their target price on CME Group from $330.00 to $337.00 and gave the company an "overweight" rating in a research note on Friday, October 9th. JPMorgan Chase & Co. increased their price target on CME Group from $249.00 to $250.00 and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. Bank of America increased their price target on CME Group from $226.00 to $230.00 and gave the stock an "underperform" rating in a research note on Thursday, July 23rd. Piper Sandler lowered their price target on CME Group from $329.00 to $295.00 and set an "overweight" rating on the stock in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of CME Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, CME Group has an average rating of "Hold" and a consensus price target of $292.94.

CME Group Profile

CME Group Inc operates global derivatives marketplaces that enable customers to manage risk and trade futures and options contracts. Its exchanges offer products linked to interest rates, equity indexes, foreign currencies, agricultural commodities, energy, metals and other asset classes.

The company also provides central counterparty clearing, settlement and related risk-management services for transactions conducted on its markets. In addition, CME Group offers market data, benchmark products and technology services that support trading, analysis and connectivity for financial institutions, businesses, professional traders and other market participants.

CME Group's history includes the Chicago Board of Trade, founded in 1848, and the Chicago Mercantile Exchange, established in 1898.

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