Motco Lowers Stock Position in CME Group Inc. (NASDAQ:CME)

Key Points

• Motco reduced its holdings in CME Group Inc. by 11.7%, owning 18,811 shares after selling 2,481 shares, valued at approximately $4.99 million at the end of the first quarter.
• Several hedge funds have modified their positions in CME Group, with many increasing their stakes significantly, demonstrating ongoing institutional interest despite Motco's reduction.
• In recent months, analysts have given CME Group varied ratings, with some raising target prices while others have issued sell or hold ratings, resulting in a consensus rating of "Hold" and an average target price of $261.93.

Motco lessened its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 11.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 18,811 shares of the financial services provider's stock after selling 2,481 shares during the period. Motco's holdings in CME Group were worth $4,990,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Wayfinding Financial LLC purchased a new stake in CME Group during the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its position in CME Group by 122.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. New Age Alpha Advisors LLC grew its position in 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 worth $30,000 after purchasing an additional 43 shares during the last quarter. Golden State Wealth Management LLC grew its position in CME Group by 612.5% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after purchasing an additional 98 shares during the last quarter. Finally, Alpine Bank Wealth Management purchased a new stake in CME Group during the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insider Activity

In other news, Director Phyllis M. Lockett sold 1,060 shares of CME Group stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $277.88, for a total transaction of $294,552.80. Following the sale, the director owned 3,108 shares of the company's stock, valued at approximately $863,651.04. The trade was a 25.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles P. Carey sold 500 shares of CME Group stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $265.35, for a total transaction of $132,675.00. Following the sale, the director directly owned 4,900 shares in the company, valued at approximately $1,300,215. The trade was a 9.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,400 shares of company stock worth $3,152,410. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CME shares. Bank of America boosted their target price on shares of CME Group from $200.00 to $219.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 2nd. Wall Street Zen downgraded shares of CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. Barclays reduced their price target on shares of CME Group from $299.00 to $298.00 and set an "equal weight" rating for the company in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley raised their price target on shares of CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $261.93.

CME Group Price Performance

Shares of NASDAQ CME opened at $279.55 on Friday. The firm has a fifty day moving average of $276.44 and a 200 day moving average of $262.25. CME Group Inc. has a one year low of $193.25 and a one year high of $290.79. The firm has a market cap of $100.74 billion, a PE ratio of 27.06, a PEG ratio of 4.85 and a beta of 0.44. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02.

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, beating the consensus estimate of $2.91 by $0.05. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a return on equity of 14.60% and a net margin of 58.48%. The business's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.56 earnings per share. As a group, research analysts predict that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Monday, June 9th were given a dividend of $1.25 per share. The ex-dividend date was Monday, June 9th. This represents a $5.00 annualized dividend and a dividend yield of 1.79%. CME Group's payout ratio is 48.40%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.