Jessup Wealth Management Inc Acquires New Position in CME Group Inc. (NASDAQ:CME)

Jessup Wealth Management Inc purchased a new stake in CME Group Inc. (NASDAQ:CME - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 7,933 shares of the financial services provider's stock, valued at approximately $2,105,000. CME Group comprises 0.9% of Jessup Wealth Management Inc's investment portfolio, making the stock its 26th biggest position.

Other hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC lifted its holdings in shares of CME Group by 3.0% during the 1st quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider's stock valued at $366,000 after acquiring an additional 40 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in shares of CME Group by 50.0% during the 4th quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider's stock valued at $30,000 after acquiring an additional 43 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of CME Group by 3.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,342 shares of the financial services provider's stock valued at $356,000 after acquiring an additional 47 shares in the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of CME Group by 1.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 3,522 shares of the financial services provider's stock valued at $934,000 after acquiring an additional 48 shares in the last quarter. Finally, Berry Wealth Group LP lifted its holdings in shares of CME Group by 0.4% during the 1st quarter. Berry Wealth Group LP now owns 13,561 shares of the financial services provider's stock valued at $3,598,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Stock Up 2.1%

Shares of CME traded up $5.85 during midday trading on Monday, hitting $282.55. The company had a trading volume of 2,252,300 shares, compared to its average volume of 2,189,580. The company's 50 day moving average price is $276.40 and its 200 day moving average price is $258.18. The stock has a market cap of $101.82 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 3.75 and a beta of 0.44. CME Group Inc. has a 52 week low of $193.17 and a 52 week high of $290.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME - Get Free Report) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.19. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.56 billion. CME Group had a net margin of 57.71% and a return on equity of 14.03%. The company's revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, equities research analysts predict that CME Group Inc. will post 10.49 EPS 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 given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Monday, June 9th. CME Group's payout ratio is currently 50.30%.

Insider Buying and Selling

In related news, General Counsel Jonathan L. Marcus sold 390 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total transaction of $108,225.00. Following the completion of the sale, the general counsel owned 6,708 shares of the company's stock, valued at $1,861,470. This represents a 5.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel G. Kaye sold 500 shares of the business's stock in a transaction dated 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 directly owned 3,668 shares of the company's stock, valued at approximately $1,035,916.56. This 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 13,400 shares of company stock worth $3,680,610. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CME. Erste Group Bank lowered shares of CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Citigroup lifted their target price on shares of CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. reduced their target price on shares of CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. UBS Group lifted their target price on shares of CME Group from $290.00 to $305.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Morgan Stanley boosted 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $259.87.

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.