Foster Group Inc. Buys New Position in CME Group Inc. $CME

Key Points

• Foster Group acquired 20,276 CME Group shares in the third quarter, valued at approximately $5.3 million. Institutional investors collectively own 87.75% of the company.
• CME Group reported quarterly revenue of $1.71 billion and earnings of $2.99 per share, surpassing analyst estimates. Revenue increased 0.8% year over year, while analysts expect full-year EPS of $12.29.
• The company declared a quarterly dividend of $1.30 per share, equivalent to an annualized $5.20 dividend and a 1.9% yield. Analysts’ average rating is “Hold,” with an average price target of $292.06.

Foster Group Inc. purchased a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 20,276 shares of the financial services provider's stock, valued at approximately $5,312,000.

Several other hedge funds also recently modified their holdings of CME. Whipplewood Advisors LLC boosted its holdings in CME Group by 2,075.0% in the first quarter. Whipplewood Advisors LLC now owns 87 shares of the financial services provider's stock worth $26,000 after acquiring an additional 83 shares in the last quarter. First Community Trust NA purchased a new stake in shares of CME Group in the third quarter valued at about $26,000. North Point Portfolio Managers Corp OH purchased a new stake in CME Group in the 3rd quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in CME Group during the second quarter worth $28,000. Finally, Bayban bought a new stake in CME Group during the fourth quarter worth $31,000. Institutional investors own 87.75% of the company's stock.

CME Group Stock Performance

NASDAQ:CME opened at $278.03 on Wednesday. The stock has a market cap of $99.97 billion, a P/E ratio of 23.58, a PEG ratio of 3.63 and a beta of 0.24. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The business's 50-day moving average price is $272.60 and its two-hundred day moving average price is $270.72. CME Group Inc. has a twelve month low of $218.31 and a twelve month high of $329.16.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The firm had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.68 billion. During the same quarter last year, the company posted $2.96 EPS. The business's quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that CME Group Inc. will post 12.29 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, September 9th. CME Group's payout ratio is 44.11%.

Wall Street Analyst Weigh In

CME has been the topic of several research analyst reports. The Goldman Sachs Group cut their price objective on CME Group from $267.00 to $245.00 and set a "sell" rating on the stock in a research report on Tuesday, June 30th. Piper Sandler decreased their target price on CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Raymond James Financial reiterated an "outperform" rating and set a $320.00 target price on shares of CME Group in a research note on Thursday, July 2nd. JPMorgan Chase & Co. boosted their price target on shares of CME Group from $249.00 to $250.00 and gave the stock an "underweight" rating in a report on Thursday, July 23rd. Finally, Wall Street Zen upgraded shares of CME Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 3rd. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $292.06.

Insiders Place Their Bets

In other CME Group news, Director William R. Shepard acquired 293 shares of the business's stock in a transaction dated Friday, September 25th. The shares were purchased at an average cost of $268.76 per share, for a total transaction of $78,746.68. Following the transaction, the director owned 263,289 shares in the company, valued at $70,761,551.64. This represents a 0.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth A. Cook sold 500 shares of CME Group stock in a transaction on Monday, September 14th. The shares were sold at an average price of $280.11, for a total transaction of $140,055.00. Following the completion of the sale, the director owned 17,916 shares in the company, valued at approximately $5,018,450.76. This trade represents a 2.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company's stock.

CME Group Company 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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