Richardson Financial Services Inc. Sells 518 Shares of CME Group Inc. (NASDAQ:CME)

Richardson Financial Services Inc. lowered its stake in CME Group Inc. (NASDAQ:CME) by 21.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,939 shares of the financial services provider’s stock after selling 518 shares during the period. Richardson Financial Services Inc.’s holdings in CME Group were worth $381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CME. Bluefin Capital Management LLC purchased a new position in shares of CME Group in the fourth quarter valued at about $2,891,000. Alaska Permanent Fund Corp raised its position in CME Group by 81.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock valued at $9,588,000 after purchasing an additional 19,985 shares during the last quarter. Bank of Nova Scotia lifted its holdings in CME Group by 229.4% in the 4th quarter. Bank of Nova Scotia now owns 292,597 shares of the financial services provider’s stock worth $61,618,000 after buying an additional 203,769 shares during the period. Oak Harvest Investment Services lifted its holdings in CME Group by 66.5% in the 1st quarter. Oak Harvest Investment Services now owns 45,093 shares of the financial services provider’s stock worth $9,708,000 after buying an additional 18,017 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of CME Group by 21.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,205 shares of the financial services provider’s stock worth $9,477,000 after buying an additional 8,443 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CME. Barclays raised their price target on CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Keefe, Bruyette & Woods lifted their price target on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $225.00 price objective on shares of CME Group in a report on Tuesday, August 20th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, CME Group presently has an average rating of “Hold” and a consensus target price of $209.73.

Insider Activity at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total value of $1,629,381.87. Following the transaction, the director now directly owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bryan T. Durkin sold 7,593 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the sale, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

CME Group Trading Down 0.9 %

CME Group stock opened at $216.30 on Thursday. CME Group Inc. has a 12 month low of $190.70 and a 12 month high of $223.80. The company has a market capitalization of $77.88 billion, a price-to-earnings ratio of 24.61, a price-to-earnings-growth ratio of 8.85 and a beta of 0.55. The business’s fifty day simple moving average is $207.08 and its two-hundred day simple moving average is $207.54. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.03. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CME Group had a net margin of 56.98% and a return on equity of 12.82%. CME Group’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.30 EPS. As a group, equities analysts predict that CME Group Inc. will post 9.94 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date is Monday, September 9th. CME Group’s payout ratio is 52.33%.

CME Group Company 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.