Quintet Private Bank Europe S.A. Reduces Stock Holdings in CME Group Inc. $CME

Key Points

• Quintet Private Bank Europe S.A. reduced its stake in CME Group Inc. by 89.4% during the 2nd quarter, resulting in ownership of just 3,441 shares valued at $948,000.
• Insider Sunil Cutinho sold 11,896 shares of CME Group for approximately $3.23 million, representing a 40.55% decrease in their ownership.
• Analysts have set various target prices for CME Group, with Barclays setting a target of $298.00 and Citigroup raising their target from $265.00 to $275.00, reflecting varied sentiment in the market.

Quintet Private Bank Europe S.A. decreased its position in CME Group Inc. (NASDAQ:CME - Free Report) by 89.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,441 shares of the financial services provider's stock after selling 29,159 shares during the period. Quintet Private Bank Europe S.A.'s holdings in CME Group were worth $948,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wesbanco Bank Inc. raised its holdings in CME Group by 37.9% during the 2nd quarter. Wesbanco Bank Inc. now owns 1,536 shares of the financial services provider's stock valued at $423,000 after acquiring an additional 422 shares during the period. OMNI 360 Wealth Inc. raised its holdings in CME Group by 10.0% during the 2nd quarter. OMNI 360 Wealth Inc. now owns 1,520 shares of the financial services provider's stock valued at $419,000 after acquiring an additional 138 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in CME Group by 50.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 726 shares of the financial services provider's stock valued at $200,000 after acquiring an additional 242 shares during the period. Fiduciary Financial Group LLC raised its holdings in CME Group by 5.9% during the 2nd quarter. Fiduciary Financial Group LLC now owns 838 shares of the financial services provider's stock valued at $231,000 after acquiring an additional 47 shares during the period. Finally, Central Pacific Bank Trust Division raised its holdings in CME Group by 24.7% during the 2nd quarter. Central Pacific Bank Trust Division now owns 1,400 shares of the financial services provider's stock valued at $386,000 after acquiring an additional 277 shares during the period. Hedge funds and other institutional investors own 87.75% of the company's stock.

Insider Transactions at CME Group

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

Analysts Set New Price Targets

A number of brokerages have issued reports on CME. Barclays set a $298.00 target price on shares of CME Group and gave the company an "equal weight" rating in a report on Thursday, July 24th. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Citigroup boosted their target price on shares of CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Erste Group Bank cut shares of CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Piper Sandler boosted their target price on shares of CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, CME Group presently has a consensus rating of "Hold" and an average price target of $260.60.

CME Group Trading Down 0.0%

NASDAQ CME opened at $262.30 on Monday. The stock's 50-day simple moving average is $273.60 and its two-hundred day simple moving average is $270.59. CME Group Inc. has a twelve month low of $212.38 and a twelve month high of $290.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $94.53 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 4.75 and a beta of 0.43.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.05. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter last year, the business posted $2.56 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts forecast 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 will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be given a dividend of $1.25 per share. The ex-dividend date is Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. CME Group's dividend payout ratio (DPR) is presently 48.40%.

CME Group 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.

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