New England Research & Management Inc. Sells 900 Shares of CME Group Inc. (NASDAQ:CME)

New England Research & Management Inc. trimmed its holdings in shares of CME Group Inc. (NASDAQ:CME) by 29.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,175 shares of the financial services provider’s stock after selling 900 shares during the quarter. New England Research & Management Inc.’s holdings in CME Group were worth $480,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of CME. Capital International Investors increased its stake in CME Group by 24.1% during the 1st quarter. Capital International Investors now owns 15,809,175 shares of the financial services provider’s stock worth $3,403,557,000 after purchasing an additional 3,069,806 shares in the last quarter. PineStone Asset Management Inc. grew its stake in shares of CME Group by 137.6% during the 2nd quarter. PineStone Asset Management Inc. now owns 2,260,644 shares of the financial services provider’s stock worth $444,443,000 after acquiring an additional 1,309,097 shares in the last quarter. M&G Plc bought a new position in shares of CME Group during the 1st quarter worth approximately $156,631,000. Assenagon Asset Management S.A. grew its stake in shares of CME Group by 577.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 645,330 shares of the financial services provider’s stock worth $126,872,000 after acquiring an additional 550,133 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of CME Group by 11.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock worth $1,038,676,000 after acquiring an additional 537,758 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CME has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on shares of CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their target price on shares of CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research note on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and issued a $225.00 target price on shares of CME Group in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their target price on shares of CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research note on Thursday. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $214.54.

Insider Activity

In other 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 completion of the transaction, the director now owns 55,607 shares of the company’s stock, valued at $11,932,706.13. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other CME Group news, Director Bryan T. Durkin sold 7,593 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were 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 of the company’s stock, valued at approximately $11,932,706.13. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction that occurred on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at $2,877,504.39. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

CME Group Price Performance

CME stock traded down $2.70 during midday trading on Monday, reaching $221.73. The company had a trading volume of 3,022,985 shares, compared to its average volume of 1,965,087. The company has a market capitalization of $79.84 billion, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 8.74 and a beta of 0.55. The stock has a 50 day moving average price of $212.17 and a 200-day moving average price of $207.64. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $226.78. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

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

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, September 9th. CME Group’s dividend payout ratio is currently 52.33%.

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.