CME Group (NASDAQ:CME) Director Howard Siegel Sells 2,000 Shares of Stock

Key Points

• Director Howard Siegel sold 2,000 CME Group shares for $606,000 at an average price of $303, reducing his stake by 9.14% to 19,873 shares.
• CME Group’s latest quarterly results beat estimates: earnings were $3.02 per share versus $2.99 expected, while revenue of $1.74 billion rose 10.6% year over year.
• The stock fell 0.7% to $304.06 in Tuesday trading. Analysts’ consensus rating was “Hold,” with an average price target of $314.44.

CME Group Inc. (NASDAQ:CME - Get Free Report) Director Howard Siegel sold 2,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $303.00, for a total value of $606,000.00. Following the completion of the sale, the director directly owned 19,873 shares in the company, valued at approximately $6,021,519. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

CME Group Stock Down 0.7%

CME stock traded down $2.18 on Tuesday, reaching $304.06. 1,699,618 shares of the company traded hands, compared to its average volume of 2,497,197. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market cap of $109.33 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 3.59 and a beta of 0.24. The firm has a fifty day simple moving average of $280.96 and a 200-day simple moving average of $280.20.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.03. CME Group had a return on equity of 16.23% and a net margin of 63.33%. The business had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.71 billion. During the same quarter in the previous year, the business earned $2.68 earnings per share. The firm's quarterly revenue was up 10.6% compared to the same quarter last year. Research analysts anticipate that CME Group Inc. will post 12.34 earnings per share for the current year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, September 9th. CME Group's payout ratio is currently 42.66%.

Key CME Group News

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: CME Group’s market-data revenue reached a record $243 million last quarter, providing a recurring revenue stream alongside trading-related income. Trading activity was also described as strong across several markets, which may support near-term results. CME Group market-data revenue article
• Neutral Sentiment: The CFTC has cleared stock perpetual futures for trading on U.S. registered exchanges. This could broaden the products available in the futures market, but the report does not specify the impact on CME Group. Article on CFTC approval of stock perpetual futures
• Negative Sentiment: Two insiders sold shares on Nov. 2. Julie Winkler sold 10,079 shares, reducing her position by about 32%, while director Howard Siegel sold 2,000 shares, reducing his holding by about 9%. Insider sales can weigh on sentiment, though both retained shares and the transactions do not necessarily indicate a change in the company’s outlook. CME Group insider sales report

Analysts Set New Price Targets

Several brokerages recently commented on CME. Bank of America increased their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of CME Group from $337.00 to $359.00 and gave the stock an "overweight" rating in a research note on Thursday, October 22nd. Wall Street Zen upgraded shares of CME Group from a "sell" rating to a "hold" rating in a research note on Saturday. Barclays increased their price target on shares of CME Group from $281.00 to $321.00 and gave the company an "equal weight" rating in a report on Thursday, October 22nd. Finally, Weiss Ratings raised shares of CME Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $314.44.

Institutional Investors Weigh In On CME Group

Several institutional investors have recently modified their holdings of CME. Bridgewater Advisors Inc. purchased a new position in shares of CME Group during the second quarter valued at $612,000. Focus Financial Network Inc. purchased a new stake in CME Group in the third quarter worth about $1,513,000. The Manufacturers Life Insurance Company bought a new position in CME Group during the 2nd quarter worth about $53,671,000. Haverford Trust Co purchased a new position in CME Group during the 2nd quarter valued at about $13,818,000. Finally, Bowie Capital Management LLC purchased a new position in CME Group during the 2nd quarter valued at about $22,991,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Company Profile

CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.

CME Group's exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.

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