State of Alaska Department of Revenue Trims Position in CME Group Inc. $CME

Key Points

• The State of Alaska Department of Revenue reduced its shares in CME Group Inc. by 4.2%, owning 40,442 shares worth approximately $11.15 million.
• CME Group reported a 10.4% increase in revenue year-over-year, with quarterly earnings of $2.96 per share, surpassing estimates by $0.05.
• The firm announced a quarterly dividend of $1.25, resulting in an annualized dividend yield of 1.8% and a payout ratio of 48.40%.

State of Alaska Department of Revenue decreased its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 4.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,442 shares of the financial services provider's stock after selling 1,790 shares during the quarter. State of Alaska Department of Revenue's holdings in CME Group were worth $11,146,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Webster Bank N. A. boosted its position in shares of CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 60 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in CME Group in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC raised its holdings in 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 purchasing an additional 55 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in 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 purchasing an additional 98 shares in the last quarter. Finally, Ransom Advisory Ltd purchased a new position in shares of CME Group during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Trading Up 0.6%

NASDAQ:CME opened at $270.28 on Friday. The firm has a market capitalization of $97.40 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 4.89 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. The business's 50-day moving average price is $270.87 and its two-hundred day moving average price is $270.96. CME Group Inc. has a 1-year low of $213.94 and a 1-year high of $290.79.

CME Group (NASDAQ:CME - Get Free Report) last posted 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 firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $2.56 earnings per share. The business's revenue was up 10.4% compared to the same quarter last year. On average, equities analysts expect that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group's payout ratio is currently 48.40%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CME. JPMorgan Chase & Co. boosted their target price on shares of CME Group from $246.00 to $252.00 and gave the stock an "underweight" rating in a research report on Thursday. Barclays set a $298.00 target price on shares of CME Group and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Oppenheimer boosted their price target 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. UBS Group lowered their price target on CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a research note on Monday, September 8th. Finally, Wall Street Zen lowered CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, CME Group has a consensus rating of "Hold" and an average target price of $268.14.

Insider Transactions at CME Group

In related news, insider Timothy Francis Mccourt sold 379 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total transaction of $98,475.57. Following the transaction, the insider directly owned 9,508 shares of the company's stock, valued at approximately $2,470,463.64. This represents a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sunil Cutinho sold 11,896 shares of the stock in a transaction on 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 transaction, the insider directly owned 17,440 shares of the company's stock, valued at approximately $4,734,436.80. This trade represents a 40.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,043 shares of company stock valued at $3,527,956 in the last 90 days. Corporate insiders own 0.30% of the company's stock.

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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