Obermeyer Wealth Partners Trims Stock Position in CME Group Inc. (NASDAQ:CME)

Obermeyer Wealth Partners lowered its holdings in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,533 shares of the financial services provider's stock after selling 1,866 shares during the period. CME Group accounts for 1.6% of Obermeyer Wealth Partners' investment portfolio, making the stock its 23rd largest holding. Obermeyer Wealth Partners' holdings in CME Group were worth $29,589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in shares of CME Group during the 4th quarter valued at $1,107,389,000. Price T Rowe Associates Inc. MD increased its holdings in shares of CME Group by 89.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,280,785 shares of the financial services provider's stock valued at $1,923,047,000 after purchasing an additional 3,921,278 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CME Group by 32,941.0% in the first quarter. GAMMA Investing LLC now owns 1,858,887 shares of the financial services provider's stock valued at $493,144,000 after acquiring an additional 1,853,261 shares in the last quarter. Franklin Resources Inc. increased its stake in CME Group by 38.7% in the fourth quarter. Franklin Resources Inc. now owns 3,366,786 shares of the financial services provider's stock valued at $781,869,000 after acquiring an additional 939,679 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in CME Group by 4,216.2% during the 4th quarter. Bessemer Group Inc. now owns 922,805 shares of the financial services provider's stock worth $214,301,000 after purchasing an additional 901,425 shares in the last quarter. 87.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Charles P. Carey sold 3,000 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $272.56, for a total transaction of $817,680.00. Following the transaction, the director directly owned 5,400 shares in the company, valued at approximately $1,471,824. This represents a 35.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Larry G. Gerdes sold 2,000 shares of the company's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $264.10, for a total transaction of $528,200.00. Following the transaction, the director owned 38,651 shares in the company, valued at approximately $10,207,729.10. This trade represents a 4.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock valued at $3,680,610 over the last three months. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler raised their price objective on CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $269.00 target price on shares of CME Group in a report on Thursday, April 3rd. Citigroup raised their target price on CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Morgan Stanley raised 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. Finally, Keefe, Bruyette & Woods upped their price target on CME Group from $265.00 to $273.00 and gave the company a "market perform" rating in a research report on Thursday, April 24th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $261.80.

CME Group Stock Up 0.1%

Shares of NASDAQ CME opened at $275.00 on Tuesday. CME Group Inc. has a 52-week low of $193.25 and a 52-week high of $290.79. The stock has a market capitalization of $99.10 billion, a PE ratio of 27.67, a P/E/G ratio of 4.81 and a beta of 0.44. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average of $275.89 and a 200-day moving average of $261.04.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings data 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. CME Group had a return on equity of 14.03% and a net margin of 57.71%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.56 billion. During the same quarter in the previous year, the firm earned $2.50 EPS. The firm's revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The company 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 1.82%. The ex-dividend date was Monday, June 9th. CME Group's dividend payout ratio is currently 50.30%.

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.

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