Moran Wealth Management LLC Raises Stake in CME Group Inc. (NASDAQ:CME)

Moran Wealth Management LLC increased its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,296 shares of the financial services provider's stock after acquiring an additional 11,643 shares during the period. CME Group comprises 0.7% of Moran Wealth Management LLC's investment portfolio, making the stock its 29th biggest position. Moran Wealth Management LLC's holdings in CME Group were worth $22,098,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New Age Alpha Advisors LLC boosted its stake in shares of CME Group by 50.0% in the 4th quarter. New Age Alpha Advisors LLC now owns 129 shares of the financial services provider's stock valued at $30,000 after buying an additional 43 shares during the period. Knuff & Co LLC purchased a new stake in CME Group in the fourth quarter valued at $33,000. Banque Transatlantique SA acquired a new stake in shares of CME Group in the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new position in shares of CME Group during the fourth quarter worth approximately $37,000. Finally, United Community Bank purchased a new position in CME Group during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

CME Group Price Performance

Shares of CME traded down $1.28 during mid-day trading on Tuesday, reaching $271.38. 2,092,859 shares of the company's stock were exchanged, compared to its average volume of 2,226,812. 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 Inc. has a 52-week low of $192.11 and a 52-week high of $290.79. The company has a market cap of $97.79 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 3.72 and a beta of 0.45. The company has a 50-day simple moving average of $274.35 and a two-hundred day simple moving average of $255.81.

CME Group (NASDAQ:CME - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.19. CME Group had a net margin of 57.71% and a return on equity of 14.03%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The firm'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 fiscal year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Monday, June 9th will be given a dividend of $1.25 per share. The ex-dividend date is Monday, June 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.84%. CME Group's dividend payout ratio (DPR) is currently 50.30%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CME shares. UBS Group increased their price objective on CME Group from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Barclays lifted their price objective on shares of CME Group from $279.00 to $283.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 23rd. Oppenheimer boosted their price objective on shares of CME Group from $282.00 to $300.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. Erste Group Bank lowered CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Piper Sandler increased their target price on CME Group from $275.00 to $283.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $258.20.

Insiders Place Their Bets

In other CME Group news, Director Charles P. Carey sold 500 shares of CME Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $265.35, for a total value of $132,675.00. Following the completion of the sale, the director now owns 4,900 shares in the company, valued at $1,300,215. The trade was a 9.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Larry G. Gerdes sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $264.10, for a total transaction of $528,200.00. Following the completion of the sale, the director now directly owns 38,651 shares in the company, valued at $10,207,729.10. This represents a 4.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 13,400 shares of company stock valued at $3,680,610. Company insiders own 0.30% of the company's stock.

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.