Westpac Banking Corp Decreases Stock Position in CME Group Inc. (NASDAQ:CME)

Key Points

• Westpac Banking Corp reduced its stake in CME Group by 4.6%, selling 1,589 shares and holding 32,666 shares worth approximately $8.67 million after the sale.
• CME Group reported a Q2 EPS of $2.96, exceeding analysts' estimates, with a 10.4% year-over-year revenue growth amounting to $1.69 billion.
• The company declared a quarterly dividend of $1.25 per share, with an annualized dividend of $5.00 and a yield of 1.7%, set to be paid on September 25th.

Westpac Banking Corp cut its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 4.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,666 shares of the financial services provider's stock after selling 1,589 shares during the period. Westpac Banking Corp's holdings in CME Group were worth $8,666,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CME. Heartland Bank & Trust Co purchased a new position in shares of CME Group in the 1st quarter valued at $377,000. Catalyst Capital Advisors LLC increased its holdings in shares of CME Group by 256.9% in the 1st quarter. Catalyst Capital Advisors LLC now owns 3,662 shares of the financial services provider's stock valued at $971,000 after acquiring an additional 2,636 shares during the period. OMNI 360 Wealth Inc. purchased a new position in shares of CME Group in the 1st quarter valued at $367,000. Fulcrum Equity Management purchased a new position in shares of CME Group in the 1st quarter valued at $258,000. Finally, Aspire Growth Partners LLC purchased a new position in shares of CME Group in the 4th quarter valued at $548,000. 87.75% of the stock is owned by institutional investors.

CME Group Stock Performance

Shares of CME Group stock traded up $0.78 on Thursday, reaching $274.70. 1,971,002 shares of the stock were exchanged, compared to its average volume of 2,347,696. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a twelve month low of $204.16 and a twelve month high of $290.79. The business has a 50 day moving average price of $275.53 and a two-hundred day moving average price of $266.60. The firm has a market capitalization of $99.00 billion, a price-to-earnings ratio of 26.59, a PEG ratio of 4.89 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly 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 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 analyst estimates of $1.68 billion. During the same quarter in the previous year, the business earned $2.56 EPS. CME Group's revenue for the quarter was up 10.4% compared to the same quarter last year. Analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Tuesday, September 9th. CME Group's payout ratio is currently 48.40%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price target on CME Group from $223.00 to $211.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Piper Sandler lifted their price target on CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Wall Street Zen downgraded CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. UBS Group restated a "neutral" rating and set a $305.00 target price on shares of CME Group in a research note on Thursday, July 24th. Finally, Morgan Stanley upped their price objective on shares of CME Group from $301.00 to $304.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $261.93.

Insider Transactions at CME Group

In related news, Director Charles P. Carey sold 500 shares of CME Group stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $265.35, for a total value of $132,675.00. Following the completion of the transaction, the director owned 4,900 shares in the company, valued at $1,300,215. The trade was a 9.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jonathan L. Marcus sold 390 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $277.50, for a total value of $108,225.00. Following the sale, the general counsel owned 6,708 shares of the company's stock, valued at approximately $1,861,470. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,450 shares of company stock worth $676,663 over the last quarter. Company insiders own 0.30% of the company's stock.

About CME Group

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.