Parr Mcknight Wealth Management Group LLC Cuts Stock Holdings in CME Group Inc. (NASDAQ:CME)

Parr Mcknight Wealth Management Group LLC lessened its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,846 shares of the financial services provider's stock after selling 1,656 shares during the quarter. Parr Mcknight Wealth Management Group LLC's holdings in CME Group were worth $3,408,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CME. Bank Pictet & Cie Europe AG raised its holdings in shares of CME Group by 29.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 86,941 shares of the financial services provider's stock worth $20,190,000 after purchasing an additional 19,533 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of CME Group in the 4th quarter worth approximately $268,000. Independent Advisor Alliance raised its holdings in shares of CME Group by 23.7% in the 4th quarter. Independent Advisor Alliance now owns 8,827 shares of the financial services provider's stock worth $2,050,000 after purchasing an additional 1,692 shares during the period. Dearborn Partners LLC raised its holdings in shares of CME Group by 5.4% in the 4th quarter. Dearborn Partners LLC now owns 1,512 shares of the financial services provider's stock worth $351,000 after purchasing an additional 77 shares during the period. Finally, Sage Mountain Advisors LLC bought a new stake in CME Group during the 4th quarter valued at $308,000. Institutional investors own 87.75% of the company's stock.

Insider Buying and Selling

In related news, Director Dennis Suskind sold 1,000 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $271.28, for a total value of $271,280.00. Following the completion of the transaction, the director directly owned 2,915 shares in the company, valued at approximately $790,781.20. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Phyllis M. Lockett sold 1,060 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $277.88, for a total transaction of $294,552.80. Following the completion of the transaction, the director owned 3,108 shares of the company's stock, valued at $863,651.04. This trade represents a 25.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock valued at $3,680,610 in the last three months. 0.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CME has been the subject of a number of analyst reports. Erste Group Bank lowered CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Morgan Stanley raised their price target on CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group raised their price target on CME Group from $290.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Citigroup raised their price target on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Finally, Oppenheimer raised their price target on CME Group from $282.00 to $300.00 and gave the stock an "outperform" rating in a report on Wednesday, June 4th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $260.93.

CME Group Price Performance

Shares of CME Group stock traded down $0.11 during trading on Friday, hitting $275.08. The stock had a trading volume of 1,531,570 shares, compared to its average volume of 2,184,968. The firm has a market cap of $99.13 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 4.44 and a beta of 0.44. CME Group Inc. has a 12 month low of $193.25 and a 12 month high of $290.79. The business's 50-day moving average is $276.58 and its 200 day moving average is $259.23. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly 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 firm had revenue of $1.64 billion for the quarter, compared to analysts' expectations of $1.56 billion. CME Group had a net margin of 57.71% and a return on equity of 14.03%. The business's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. As a group, sell-side analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 9th were given a $1.25 dividend. The ex-dividend date was Monday, June 9th. This represents a $5.00 annualized dividend and a yield of 1.82%. CME Group's dividend payout ratio (DPR) is presently 50.30%.

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.