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HB Wealth Management LLC Buys 1,175 Shares of CME Group Inc. (NASDAQ:CME)

CME Group logo with Finance background

Key Points

  • HB Wealth Management LLC increased its stake in CME Group by 17.9%, owning a total of 7,736 shares valued at $2,052,000 after acquiring an additional 1,175 shares in the first quarter.
  • CME Group reported a net margin of 58.48% and a revenue increase of 10.4% year-over-year, with an EPS of $2.96 surpassing estimates.
  • The company announced a quarterly dividend of $1.25 per share, resulting in an annualized dividend yield of 1.82% and a payout ratio of 48.40%.
  • MarketBeat previews the top five stocks to own by September 1st.

HB Wealth Management LLC grew its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,736 shares of the financial services provider's stock after purchasing an additional 1,175 shares during the period. HB Wealth Management LLC's holdings in CME Group were worth $2,052,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC lifted its holdings in shares of CME Group by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 8,389,442 shares of the financial services provider's stock worth $1,946,717,000 after buying an additional 104,697 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in CME Group by 89.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,280,785 shares of the financial services provider's stock worth $1,923,047,000 after acquiring an additional 3,921,278 shares during the period. FIL Ltd lifted its stake in CME Group by 1.5% in the 4th quarter. FIL Ltd now owns 4,081,391 shares of the financial services provider's stock worth $947,821,000 after purchasing an additional 61,908 shares in the last quarter. Northern Trust Corp boosted its holdings in CME Group by 11.4% in the 4th quarter. Northern Trust Corp now owns 3,943,454 shares of the financial services provider's stock valued at $915,788,000 after purchasing an additional 403,920 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of CME Group by 38.7% during the 4th quarter. Franklin Resources Inc. now owns 3,366,786 shares of the financial services provider's stock valued at $781,869,000 after purchasing an additional 939,679 shares in the last quarter. Institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CME. Oppenheimer upped their price target on shares of CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. decreased their target price on CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Citigroup lifted their price target on CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Wall Street Zen lowered CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Finally, Erste Group Bank downgraded shares of CME Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, CME Group presently has a consensus rating of "Hold" and an average price target of $261.93.

Check Out Our Latest Report on CME Group

CME Group Trading Up 0.9%

CME traded up $2.59 on Friday, hitting $280.87. 1,282,893 shares of the company were exchanged, compared to its average volume of 2,365,105. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a 12 month low of $196.62 and a 12 month high of $290.79. The firm has a fifty day simple moving average of $276.14 and a two-hundred day simple moving average of $263.55. The stock has a market capitalization of $101.22 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 4.93 and a beta of 0.44.

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

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. CME Group's payout ratio is presently 48.40%.

Insider Activity

In related news, Director Charles P. Carey sold 500 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $265.35, for a total value of $132,675.00. Following the sale, the director directly owned 4,900 shares of the company's stock, valued at $1,300,215. This represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel G. Kaye sold 500 shares of the business's stock in a transaction 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 sale, the director owned 3,668 shares in the company, valued at approximately $1,035,916.56. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,400 shares of company stock worth $2,881,130. 0.30% of the stock is owned by company insiders.

CME Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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