Meyer Handelman Co. Purchases 22,336 Shares of CME Group Inc. (NASDAQ:CME)

Meyer Handelman Co. increased its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 84.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 48,793 shares of the financial services provider's stock after purchasing an additional 22,336 shares during the quarter. Meyer Handelman Co.'s holdings in CME Group were worth $12,944,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC raised its stake in shares of CME Group by 50.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 43 shares in the last quarter. Financial Life Planners acquired a new position in shares of CME Group in the fourth quarter valued at $32,000. Knuff & Co LLC acquired a new position in shares of CME Group in the fourth quarter valued at $33,000. Banque Transatlantique SA acquired a new position in shares of CME Group in the fourth quarter valued at $35,000. Finally, Whipplewood Advisors LLC acquired a new position in shares of CME Group in the fourth quarter valued at $37,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

CME Group Stock Up 0.6%

Shares of NASDAQ CME traded up $1.71 during mid-day trading on Monday, reaching $290.71. 1,779,118 shares of the company's stock were exchanged, compared to its average volume of 2,186,693. The firm has a market capitalization of $104.76 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 6.76 and a beta of 0.45. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $269.98 and a 200 day simple moving average of $251.44. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $290.73.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.19. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.56 billion. CME Group had a return on equity of 13.62% and a net margin of 57.52%. CME Group's revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, equities analysts expect that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Monday, June 9th. CME Group's dividend payout ratio is currently 50.30%.

Insider Activity at CME Group

In related news, Director Howard J. Siegel sold 10,000 shares of CME Group stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $260.00, for a total value of $2,600,000.00. Following the sale, the director now owns 21,873 shares of the company's stock, valued at approximately $5,686,980. This trade represents a 31.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel G. Kaye sold 500 shares of CME Group stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total value of $141,210.00. Following the completion of the sale, the director now directly owns 3,668 shares in the company, 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 quarter, insiders have sold 22,900 shares of company stock valued at $6,147,935. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CME shares. Royal Bank of Canada reiterated a "sector perform" rating and set a $269.00 price objective on shares of CME Group in a research note on Thursday, April 3rd. Erste Group Bank cut CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Oppenheimer raised their price target on CME Group from $269.00 to $279.00 and gave the company an "outperform" rating in a report on Friday, April 11th. Bank of America raised their price target on CME Group from $200.00 to $219.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. decreased their price target on CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $256.80.

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.