Intech Investment Management LLC Sells 4,309 Shares of CME Group Inc. $CME

Key Points

• Intech Investment Management LLC has reduced its stake in CME Group Inc. by 9.1%, ending the quarter with 42,853 shares valued at approximately $11.37 million.
• CME Group's recent earnings report showed $2.96 earnings per share, exceeding estimates and reflecting a 10.4% revenue increase from the same quarter last year.
• A quarterly dividend of $1.25 per share will be paid on September 25th, indicating a 1.9% dividend yield for shareholders.

Intech Investment Management LLC lessened its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,853 shares of the financial services provider's stock after selling 4,309 shares during the quarter. Intech Investment Management LLC's holdings in CME Group were worth $11,368,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CME. Bank Pictet & Cie Europe AG boosted its position in shares of CME Group by 29.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 86,941 shares of the financial services provider's stock valued at $20,190,000 after acquiring an additional 19,533 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of CME Group during the 4th quarter valued at about $9,553,000. Lighthouse Investment Partners LLC purchased a new position in shares of CME Group during the fourth quarter worth approximately $551,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in CME Group by 5.9% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,586 shares of the financial services provider's stock worth $14,999,000 after purchasing an additional 3,618 shares during the period. Finally, NorthRock Partners LLC purchased a new position in shares of CME Group in the fourth quarter worth about $810,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Performance

Shares of NASDAQ:CME opened at $259.91 on Thursday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a 12 month low of $212.38 and a 12 month high of $290.79. The company has a market capitalization of $93.67 billion, a price-to-earnings ratio of 25.16, a PEG ratio of 4.73 and a beta of 0.43. The firm's 50-day moving average is $274.10 and its 200 day moving average is $270.11.

CME Group (NASDAQ:CME - Get Free Report) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share 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 business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $2.56 earnings per share. The business's revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts predict that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $1.25 per share. The ex-dividend date is Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. CME Group's dividend payout ratio (DPR) is currently 48.40%.

Insider Activity at CME Group

In related news, Director William R. Shepard bought 256 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were acquired at an average price of $270.53 per share, with a total value of $69,255.68. Following the transaction, the director owned 258,196 shares of the company's stock, valued at $69,849,763.88. The trade was a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 value of $3,229,407.12. Following the sale, the insider directly owned 17,440 shares in the company, valued at approximately $4,734,436.80. The trade was a 40.55% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CME. Barclays set a $298.00 price target on shares of CME Group and gave the company an "equal weight" rating in a report on Thursday, July 24th. Citigroup lifted their target price on shares of CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. UBS Group decreased their price objective on shares of CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a report on Monday. Oppenheimer upped their target price 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. Finally, Piper Sandler raised their target price on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $260.60.

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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