Frank Rimerman Advisors LLC Decreases Holdings in CME Group Inc. (NASDAQ:CME)

Key Points

• Frank Rimerman Advisors LLC reduced its stake in CME Group Inc. by 8.9%, now holding 15,159 shares worth about $4.02 million.
• Several institutional investors have increased their holdings in CME, with Price T Rowe Associates boosting its stake by 89.9% to over $1.9 billion.
• CME Group recently announced a quarterly dividend of $1.25 per share, representing an annualized yield of 1.8% and a payout ratio of 48.40%.

Frank Rimerman Advisors LLC lessened its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,159 shares of the financial services provider's stock after selling 1,481 shares during the period. Frank Rimerman Advisors LLC's holdings in CME Group were worth $4,022,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CME. Heartland Bank & Trust Co purchased a new position in CME Group during the first quarter worth about $377,000. Catalyst Capital Advisors LLC lifted its position in shares of CME Group by 256.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 3,662 shares of the financial services provider's stock worth $971,000 after buying an additional 2,636 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of CME Group during the 1st quarter worth approximately $367,000. Fulcrum Equity Management purchased a new position in shares of CME Group in the 1st quarter worth approximately $258,000. Finally, Aspire Growth Partners LLC bought a new position in shares of CME Group in the fourth quarter valued at approximately $548,000. Institutional investors own 87.75% of the company's stock.

CME Group Stock Performance

NASDAQ:CME traded up $1.26 on Friday, reaching $282.21. 1,488,447 shares of the company's stock were exchanged, compared to its average volume of 2,048,058. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $101.70 billion, a price-to-earnings ratio of 27.32, a P/E/G ratio of 5.01 and a beta of 0.44. CME Group Inc. has a 52 week low of $203.77 and a 52 week high of $290.79. The stock has a fifty day simple moving average of $275.84 and a 200-day simple moving average of $266.12.

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

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group's dividend payout ratio (DPR) is currently 48.40%.

Insider Buying and Selling

In other news, Director Phyllis M. Lockett sold 1,060 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $277.88, for a total value of $294,552.80. Following the completion of the transaction, the director directly owned 3,108 shares in the company, valued at approximately $863,651.04. This trade represents a 25.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel G. Kaye sold 500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total transaction of $141,210.00. Following the completion of the transaction, the director owned 3,668 shares of the company's stock, valued at $1,035,916.56. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,750 shares of company stock valued at $1,576,294 in the last three months. Insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Morgan Stanley raised their price objective on shares of CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group reiterated a "neutral" rating and issued a $305.00 target price on shares of CME Group in a research note on Thursday, July 24th. JPMorgan Chase & Co. reduced their target price on shares of CME Group from $223.00 to $211.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler lifted their price target on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $261.93.

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.