Summit Securities Group LLC Sells 1,000 Shares of CME Group Inc. $CME

Key Points

• Summit Securities Group LLC reduced its holdings in CME Group by 4.1%, owning 23,400 shares valued at approximately $6.2 million, making it the firm's sixth largest holding.
• CME Group reported earnings of $2.96 per share for the recent quarter, surpassing analysts' expectations, and showed a year-over-year revenue increase of 10.4%.
• The firm announced a quarterly dividend of $1.25 per share, yielding 1.8%, with a dividend payout ratio of 48.40% as of the latest filings.

Summit Securities Group LLC lessened its stake in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,400 shares of the financial services provider's stock after selling 1,000 shares during the quarter. CME Group makes up approximately 1.0% of Summit Securities Group LLC's holdings, making the stock its 6th largest holding. Summit Securities Group LLC's holdings in CME Group were worth $6,208,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CME. Wayfinding Financial LLC acquired a new stake in CME Group during the first quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its stake in shares of CME Group by 122.2% during the 1st 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 during the period. Golden State Wealth Management LLC boosted its holdings 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 purchasing an additional 98 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in shares of CME Group during the first quarter worth $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of CME Group in the first quarter valued at $32,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CME Group

In related news, Director Charles P. Carey sold 500 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $265.35, for a total transaction of $132,675.00. Following the sale, the director directly owned 4,900 shares in the company, valued at approximately $1,300,215. This trade represents a 9.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William R. Shepard acquired 256 shares of the 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 transaction, the director directly owned 258,196 shares of the company's stock, valued at $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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CME. 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. Piper Sandler increased their price objective on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen downgraded shares of CME Group from a "hold" rating to a "sell" rating in a report on Sunday, July 13th. UBS Group reaffirmed a "neutral" rating and set a $305.00 price target on shares of CME Group in a research report on Thursday, July 24th. Finally, Morgan Stanley increased their price target on shares of CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, CME Group presently has a consensus rating of "Hold" and a consensus price target of $261.93.

CME Group Trading Up 1.1%

Shares of CME Group stock traded up $3.12 during trading hours on Wednesday, hitting $274.61. The company's stock had a trading volume of 1,736,586 shares, compared to its average volume of 2,337,134. The business has a fifty day moving average of $275.67 and a 200 day moving average of $267.85. CME Group Inc. has a 1-year low of $206.44 and a 1-year 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 $98.96 billion, a PE ratio of 26.58, a P/E/G ratio of 4.80 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same quarter in the previous year, the business posted $2.56 EPS. The business's quarterly revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be paid a $1.25 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. 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.