Summit Global Investments Decreases Position in CME Group Inc. $CME

Summit Global Investments reduced its stake in CME Group Inc. (NASDAQ:CME) by 15.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,060 shares of the financial services provider’s stock after selling 2,408 shares during the period. Summit Global Investments’ holdings in CME Group were worth $3,529,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jessup Wealth Management Inc grew its position in shares of CME Group by 0.5% in the 2nd quarter. Jessup Wealth Management Inc now owns 7,969 shares of the financial services provider’s stock valued at $2,197,000 after buying an additional 36 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in CME Group by 0.7% in the second quarter. First Horizon Advisors Inc. now owns 5,269 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 36 shares in the last quarter. MBM Wealth Consultants LLC grew its holdings in shares of CME Group by 2.7% during the second quarter. MBM Wealth Consultants LLC now owns 1,422 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 37 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of CME Group by 0.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 5,021 shares of the financial services provider’s stock worth $1,384,000 after purchasing an additional 38 shares in the last quarter. Finally, Trifecta Capital Advisors LLC increased its position in shares of CME Group by 59.2% during the second quarter. Trifecta Capital Advisors LLC now owns 113 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Up 1.3%

Shares of NASDAQ:CME opened at $289.83 on Friday. CME Group Inc. has a fifty-two week low of $233.12 and a fifty-two week high of $291.76. 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 firm’s 50-day simple moving average is $274.93 and its 200-day simple moving average is $272.27. The company has a market cap of $104.51 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 3.22 and a beta of 0.27.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Shareholders of record on Friday, December 12th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 12th. This represents a $5.00 annualized dividend and a yield of 1.7%. CME Group’s payout ratio is presently 48.45%.

Insider Transactions at CME Group

In related news, CEO Terrence A. Duffy sold 25,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $269.55, for a total transaction of $6,738,750.00. Following the transaction, the chief executive officer owned 65,804 shares of the company’s stock, valued at $17,737,468.20. This represents a 27.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Shepard bought 251 shares of CME Group stock in a transaction on Tuesday, December 30th. The stock was acquired at an average cost of $278.37 per share, with a total value of $69,870.87. Following the acquisition, the director owned 258,710 shares of the company’s stock, valued at $72,017,102.70. This trade represents a 0.10% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.30% of the company’s stock.

Key Headlines Impacting CME Group

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

• Positive Sentiment: Analysts and data services expect a likely earnings beat ahead of CME’s upcoming release (market consensus/non?GAAP EPS previews and previews noting the company’s revenue mix). Positive guidance/expectations ahead of the report are supporting the stock. Will CME Group (CME) beat quarterly earnings? CME Group (CME) Earnings Expected to Grow
• Positive Sentiment: CME expanded crypto derivatives with options on its Bitcoin Friday futures, broadening products for institutional and retail-facing flows — potential to increase volumes and fee revenue as crypto activity grows. CME Group Expands Crypto Offerings With Options On Bitcoin Friday Futures
• Positive Sentiment: CME issued a self?certification that could let FanDuel and DraftKings offer Super Bowl parlays on prediction markets using CME infrastructure — a new use case that could drive volume and broaden commercial relationships. FanDuel and DraftKings prediction markets could offer Super Bowl parlays, as CME issues self-certification
• Positive Sentiment: Reported short interest fell earlier in January (down ~15.6% to ~4.21M shares as of Jan 15), reducing potential downside pressure from short-covering and signaling less bearish positioning. (Data feed)
• Neutral Sentiment: CME signed a multiyear jersey-patch sponsorship with the Chicago White Sox — increases brand visibility in its hometown market but likely a modest near-term financial impact relative to core derivatives revenue. CME Group Named as First-Ever Chicago White Sox Jersey Patch Sponsor
• Neutral Sentiment: There is an anomalous/erroneous short?interest entry showing zero shares for late?January that appears to be a reporting error — investors should rely on the earlier, validated short?interest update. (Data feed)

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b+)” rating on shares of CME Group in a research note on Monday, December 29th. Keefe, Bruyette & Woods lifted their target price on shares of CME Group from $283.00 to $287.00 and gave the company a “market perform” rating in a report on Monday, October 13th. Jefferies Financial Group decreased their price target on shares of CME Group from $304.00 to $302.00 and set a “buy” rating for the company in a research note on Monday, January 12th. Raymond James Financial lifted their price objective on shares of CME Group from $307.00 to $311.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Finally, Barclays increased their target price on shares of CME Group from $280.00 to $304.00 and gave the stock an “equal weight” rating in a research note on Friday, December 12th. Nine equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, CME Group currently has a consensus rating of “Hold” and a consensus price target of $292.18.

CME Group Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.