Independent Solutions Wealth Management LLC Takes Position in CME Group Inc. $CME

Key Points

• Independent Solutions Wealth Management LLC acquired 4,866 shares of CME Group Inc., valued at approximately $1,341,000, during the second quarter of 2023.
• About 87.75% of CME Group's stock is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Wall Street analysts are divided on CME Group, with six analysts rating the stock as "Buy," while others have set differing price targets ranging from $252.00 to $305.00.

Independent Solutions Wealth Management LLC acquired a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,866 shares of the financial services provider's stock, valued at approximately $1,341,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CME. Wayfinding Financial LLC acquired a new stake in CME Group during the 1st quarter worth approximately $25,000. Webster Bank N. A. lifted its holdings in CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider's stock worth $25,000 after buying an additional 60 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Highline Wealth Partners LLC boosted its holdings in shares of CME Group by 84.3% in the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider's stock valued at $26,000 after buying an additional 43 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in CME Group by 612.5% in the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 98 shares during the last quarter. 87.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen cut CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Citigroup raised CME Group from a "neutral" rating to a "buy" rating and increased their price objective for the company from $275.00 to $300.00 in a report on Thursday, September 25th. Barclays set a $298.00 price objective on shares of CME Group and gave the company an "equal weight" rating in a research note on Thursday, July 24th. UBS Group dropped their price target on CME Group from $305.00 to $285.00 and set a "neutral" rating on the stock in a research report on Monday, September 8th. Finally, JPMorgan Chase & Co. lifted their target price on CME Group from $246.00 to $252.00 and gave the company an "underweight" rating in a research note on Thursday, September 25th. Six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $274.15.

CME Group Trading Down 1.0%

NASDAQ CME opened at $262.05 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $94.44 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 5.57 and a beta of 0.41. The company's 50 day moving average price is $269.74 and its 200 day moving average price is $271.16. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 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 firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the company posted $2.56 EPS. CME Group's revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group's payout ratio is currently 48.40%.

Insider Buying and Selling at CME Group

In related news, Director William R. Shepard bought 262 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was bought at an average cost of $265.19 per share, for a total transaction of $69,479.78. Following the completion of the purchase, the director directly owned 258,459 shares in the company, valued at approximately $68,540,742.21. The trade was a 0.10% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Timothy Francis Mccourt sold 379 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the completion of the sale, the insider owned 9,508 shares in the company, valued at $2,470,463.64. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,043 shares of company stock valued at $3,527,956 over the last three months. 0.30% of the stock is currently owned by company 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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