Sax Wealth Advisors LLC Invests $648,000 in CME Group Inc. $CME

Key Points

• Sax Wealth Advisors LLC invested approximately $648,000 in CME Group Inc., acquiring 2,352 shares of the financial services provider.
• Several other institutional investors have also increased their positions in CME Group, with 87.75% of the stock now owned by institutional investors.
• CME Group declared a quarterly dividend of $1.25 per share, representing an annual dividend yield of 1.9%.

Sax Wealth Advisors LLC acquired a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,352 shares of the financial services provider's stock, valued at approximately $648,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CME. Farther Finance Advisors LLC increased its position in shares of CME Group by 11.4% during the 1st quarter. Farther Finance Advisors LLC now owns 5,506 shares of the financial services provider's stock worth $1,444,000 after purchasing an additional 563 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of CME Group by 3.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,342 shares of the financial services provider's stock worth $356,000 after purchasing an additional 47 shares in the last quarter. GAMMA Investing LLC increased its position in shares of CME Group by 24.5% during the 1st quarter. GAMMA Investing LLC now owns 7,007 shares of the financial services provider's stock worth $1,859,000 after purchasing an additional 1,381 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of CME Group by 649.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 113,836 shares of the financial services provider's stock worth $30,200,000 after purchasing an additional 98,650 shares in the last quarter. Finally, CX Institutional increased its position in shares of CME Group by 10.1% during the 1st quarter. CX Institutional now owns 2,876 shares of the financial services provider's stock worth $763,000 after purchasing an additional 265 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Insider Buying and Selling at CME Group

In other CME Group news, Director William R. Shepard bought 262 shares of CME Group stock in a transaction dated Thursday, September 25th. The shares were bought at an average price of $265.19 per share, with a total value of $69,479.78. Following the purchase, the director owned 258,459 shares of the company's stock, valued at $68,540,742.21. This trade represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Jonathan L. Marcus sold 392 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the transaction, the general counsel directly owned 7,851 shares in the company, valued at $2,056,962. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,043 shares of company stock worth $3,527,956 over the last quarter. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CME shares. UBS Group dropped their target price on shares of CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a research report on Monday, September 8th. Oppenheimer increased their target price on shares of CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. JPMorgan Chase & Co. raised their price objective on shares of CME Group from $246.00 to $252.00 and gave the company an "underweight" rating in a research report on Thursday, September 25th. Finally, Citigroup upgraded shares of CME Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $275.00 to $300.00 in a research report on Thursday, September 25th. Six investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, CME Group has a consensus rating of "Hold" and a consensus price target of $275.17.

CME Group Stock Up 0.5%

Shares of NASDAQ CME opened at $264.94 on Thursday. The firm has a market capitalization of $95.48 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 5.56 and a beta of 0.41. 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 1 year low of $213.94 and a 1 year high of $290.79. The firm's 50-day moving average is $269.26 and its 200-day moving average is $271.06.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.05. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 EPS. Equities analysts expect 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 was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding CME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CME Group Inc. (NASDAQ:CME - Free Report).

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.