Truist Financial Corp Boosts Stock Position in CME Group Inc. $CME

Key Points

• Truist Financial Corp boosted its stake in CME Group Inc. by 10.0% during the second quarter, bringing its holdings to approximately $17.9 million in value.
• Institutional investors and hedge funds together own 87.75% of CME Group's stock, indicating strong interest and confidence in the company's performance.
• CME Group reported a 10.4% increase in quarterly revenue year-over-year, with earnings per share of $2.96, exceeding analysts’ expectations.

Truist Financial Corp boosted its holdings in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 10.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,939 shares of the financial services provider's stock after buying an additional 5,914 shares during the quarter. Truist Financial Corp's holdings in CME Group were worth $17,898,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Webster Bank N. A. increased its stake in shares of 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 in the last quarter. Highline Wealth Partners LLC grew its holdings in CME Group by 84.3% in the second quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 43 shares during the period. Wayfinding Financial LLC acquired a new stake in CME Group in the first quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its holdings in CME Group by 122.2% in the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 55 shares during the period. Finally, Golden State Wealth Management LLC lifted its position in shares of CME Group by 612.5% during the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock valued at $30,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

Insider Activity

In other news, insider Sunil Cutinho sold 11,896 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total value of $3,229,407.12. Following the transaction, the insider owned 17,440 shares of the company's stock, valued at $4,734,436.80. This represents a 40.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Timothy Francis Mccourt sold 379 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the completion of the transaction, the insider directly owned 9,508 shares in the company, valued at approximately $2,470,463.64. This trade represents a 3.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,043 shares of company stock worth $3,527,956 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of CME Group in a research report on Saturday, September 27th. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Oppenheimer boosted their target price on shares of CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley lifted their price objective on CME Group from $303.00 to $312.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Piper Sandler lifted their price objective on CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $274.15.

CME Group Price Performance

NASDAQ:CME opened at $264.67 on Friday. CME Group Inc. has a one year low of $213.94 and a one year high of $290.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $95.38 billion, a PE ratio of 25.62, a P/E/G ratio of 5.59 and a beta of 0.41. The stock has a 50 day moving average price of $269.98 and a 200 day moving average price of $271.09.

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. CME Group had a return on equity of 14.60% and a net margin of 58.48%.The company had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period in the prior year, the business earned $2.56 EPS. The firm's quarterly revenue was up 10.4% on a year-over-year basis. Equities research analysts expect 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 was paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th were issued a dividend of $1.25 per share. The ex-dividend date was Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. CME Group's dividend payout ratio (DPR) is currently 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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