Harrell Investment Partners LLC Has $6.69 Million Stake in CME Group Inc. $CME

Key Points

• Harrell Investment Partners LLC increased its stake in CME Group Inc. by 13.3% in Q2, totaling approximately $6.69 million, making CME its 13th biggest holding.
• CME Group recently reported $2.96 earnings per share for the latest quarter, beating estimates and showing a 10.4% revenue growth compared to the previous year.
• The company declared a quarterly dividend of $1.25 per share, with a yield of 1.9%, scheduled for payment on September 25th.

Harrell Investment Partners LLC raised its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 13.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,266 shares of the financial services provider's stock after acquiring an additional 2,855 shares during the quarter. CME Group comprises 1.7% of Harrell Investment Partners LLC's investment portfolio, making the stock its 13th biggest holding. Harrell Investment Partners LLC's holdings in CME Group were worth $6,688,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. TD Private Client Wealth LLC boosted its position in shares of CME Group by 108.4% during the 2nd quarter. TD Private Client Wealth LLC now owns 4,180 shares of the financial services provider's stock valued at $1,152,000 after purchasing an additional 2,174 shares in the last quarter. Mather Group LLC. increased its holdings in CME Group by 2.5% in the second quarter. Mather Group LLC. now owns 1,920 shares of the financial services provider's stock worth $529,000 after purchasing an additional 47 shares in the last quarter. IMS Capital Management acquired a new position in CME Group in the second quarter valued at approximately $1,271,000. Ballentine Partners LLC lifted its stake in CME Group by 10.6% in the second quarter. Ballentine Partners LLC now owns 6,447 shares of the financial services provider's stock valued at $1,777,000 after buying an additional 619 shares during the period. Finally, Norden Group LLC boosted its holdings in shares of CME Group by 13.2% during the 2nd quarter. Norden Group LLC now owns 7,163 shares of the financial services provider's stock worth $1,974,000 after buying an additional 833 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

CME Group Trading Up 0.9%

NASDAQ:CME opened at $264.43 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The company has a market cap of $95.30 billion, a PE ratio of 25.60, a PEG ratio of 4.74 and a beta of 0.43. The firm has a 50-day moving average of $271.14 and a 200-day moving average of $270.75.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.05. The business had revenue of $1.69 billion for the quarter, compared to analysts' expectations of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 EPS. As a group, equities research analysts expect that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be issued a dividend of $1.25 per share. The ex-dividend date is Tuesday, September 9th. This represents a $5.00 annualized dividend and a yield of 1.9%. CME Group's dividend payout ratio is 48.40%.

Wall Street Analysts Forecast Growth

CME has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a research note on Monday, September 8th. Piper Sandler lifted their price target on shares of CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Oppenheimer upped their price objective on shares of CME Group from $300.00 to $303.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Citigroup raised their target price on CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Finally, Wall Street Zen lowered CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, CME Group presently has an average rating of "Hold" and a consensus target price of $260.60.

Insider Activity at CME Group

In other news, General Counsel Jonathan L. Marcus sold 392 shares of the company's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $262.00, for a total value of $102,704.00. Following the completion of the sale, the general counsel owned 7,851 shares in the company, valued at $2,056,962. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sunil Cutinho sold 11,896 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the transaction, the insider directly owned 17,440 shares in the company, valued at $4,734,436.80. The trade was a 40.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,043 shares of company stock valued at $3,527,956. 0.30% of the stock is owned by insiders.

CME Group Company Profile

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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