iA Global Asset Management Inc. Lowers Holdings in CME Group Inc. $CME

iA Global Asset Management Inc. trimmed its stake in shares of CME Group Inc. (NASDAQ:CME) by 22.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,258 shares of the financial services provider’s stock after selling 22,333 shares during the period. iA Global Asset Management Inc.’s holdings in CME Group were worth $22,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Asset Dedication LLC boosted its position in CME Group by 64.9% in the 4th quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of CME Group during the 4th quarter worth approximately $27,000. Elkhorn Partners Limited Partnership purchased a new position in shares of CME Group during the 4th quarter valued at approximately $27,000. Hilton Head Capital Partners LLC purchased a new position in shares of CME Group during the 4th quarter valued at approximately $28,000. Finally, Legacy Wealth Managment LLC ID lifted its stake in shares of CME Group by 191.9% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 71 shares during the period. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

CME Group Price Performance

CME Group stock opened at $220.83 on Wednesday. The company’s fifty day moving average price is $270.24 and its 200 day moving average price is $285.17. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16. The stock has a market capitalization of $80.02 billion, a P/E ratio of 18.84, a P/E/G ratio of 2.44 and a beta of 0.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.25. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.80 earnings per share. As a group, equities research analysts anticipate that CME Group Inc. will post 12.28 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 2.4%. CME Group’s payout ratio is currently 44.37%.

Insider Transactions at CME Group

In related news, insider Hilda Harris Piell sold 5,753 shares of CME Group stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $304.63, for a total value of $1,752,536.39. Following the sale, the insider directly owned 27,702 shares in the company, valued at approximately $8,438,860.26. The trade was a 17.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $298.51, for a total value of $10,447,850.00. Following the sale, the chief executive officer owned 55,630 shares of the company’s stock, valued at approximately $16,606,111.30. This trade represents a 38.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. UBS Group restated an “overweight” rating on shares of CME Group in a research report on Monday, June 15th. Jefferies Financial Group decreased their price objective on shares of CME Group from $356.00 to $349.00 and set a “buy” rating for the company in a research report on Thursday, April 9th. Wall Street Zen raised shares of CME Group from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. Barclays lowered their target price on shares of CME Group from $343.00 to $316.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 23rd. Finally, Raymond James Financial lifted their price target on CME Group from $310.00 to $320.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $300.94.

Key Headlines Impacting CME Group

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

• Positive Sentiment: Director William Shepard bought 325 shares of CME at $230.57, a small insider purchase that can signal confidence in the stock’s longer-term outlook. Insider Buying: CME Group (NASDAQ:CME) Director Purchases 325 Shares
• Positive Sentiment: A recent article highlighted CME as one of several oversold stocks, which may suggest the pullback has pushed the shares into technically attractive territory for some investors. CME Group (CME): 11 Oversold Tech Stocks to Buy Now
• Neutral Sentiment: Analysts expect CME’s next quarterly earnings report to show only low single-digit profit growth, implying steady but not especially strong near-term fundamentals. What to Expect From CME Group’s Next Quarterly Earnings Report
• Neutral Sentiment: A Seeking Alpha note said CME’s recent pullback does not change its hold-style view, suggesting some analysts see the decline as valuation-driven rather than a major change in business fundamentals. CME Group’s Pullback Does Not Change The Rating
• Negative Sentiment: Goldman Sachs lowered its price target on CME and maintained a sell rating, reinforcing a cautious outlook from at least one major Wall Street firm. Goldman Sachs adjusts price target on CME Group
• Negative Sentiment: A market recap said CME was among the financial sector’s losers in the quarter, adding to the tone of recent weakness in the shares. Financial sector climbs in Q2 as Robinhood leads gainers, CME heads losers

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.