Procyon Advisors LLC Sells 1,517 Shares of CME Group Inc. $CME

Key Points

• Procyon Advisors LLC sold 1,517 shares of CME Group, reducing its holdings by 8.1% to 17,212 shares, worth approximately $4.74 million.
• CME Group recently announced a $1.25 quarterly dividend, reflecting an annualized dividend of $5.00 with a yield of 1.9%.
• Analysts have varying ratings for CME Group, with target prices ranging from $265 to $303, emphasizing a consensus rating of "Hold."

Procyon Advisors LLC decreased its holdings in CME Group Inc. (NASDAQ:CME - Free Report) by 8.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,212 shares of the financial services provider's stock after selling 1,517 shares during the quarter. Procyon Advisors LLC's holdings in CME Group were worth $4,744,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of CME. Wayfinding Financial LLC bought a new position in CME Group in the 1st quarter valued at $25,000. Webster Bank N. A. raised its position in CME Group by 206.9% in the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 60 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Golden State Wealth Management LLC raised its position in shares of CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after acquiring an additional 98 shares during the last quarter. Finally, Ransom Advisory Ltd bought a new stake in shares of CME Group during the first quarter worth $31,000. Institutional investors own 87.75% of the company's stock.

Insider Transactions at CME Group

In other CME Group news, Director William R. Shepard bought 256 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was purchased at an average cost of $270.53 per share, with a total value of $69,255.68. Following the completion of the purchase, the director owned 258,196 shares in the company, valued at approximately $69,849,763.88. The trade was a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Sunil Cutinho sold 11,896 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total value of $3,229,407.12. Following the completion of the transaction, the insider directly owned 17,440 shares of the company's stock, valued at approximately $4,734,436.80. The trade was a 40.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

CME Group Trading Up 0.4%

NASDAQ CME opened at $259.83 on Wednesday. The stock has a 50-day simple moving average of $272.81 and a 200 day simple moving average of $270.55. The company has a market capitalization of $93.64 billion, a PE ratio of 25.15, a P/E/G ratio of 4.69 and a beta of 0.43. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a 12 month low of $212.38 and a 12 month high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.91 by $0.05. The business had revenue of $1.69 billion during 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 firm's revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.56 earnings per share. Research analysts forecast that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 9th. CME Group's payout ratio is presently 48.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup boosted their target price on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Piper Sandler boosted their target price on CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Barclays set a $298.00 target price on CME Group and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Erste Group Bank downgraded CME Group from a "strong-buy" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Oppenheimer boosted their target price on CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $260.60.

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.