Key Points
- CEO insider sale: Terrence Duffy sold 15,000 CME Group shares for approximately $4.12 million, reducing his direct holdings by 26.96% to 40,630 shares.
- Financial performance and dividend: CME Group reported quarterly EPS of $2.99 and revenue of $1.71 billion, exceeding analyst estimates. The company declared a $1.30 quarterly dividend, equivalent to a 1.9% yield.
- Analyst outlook remains mixed: CME has a consensus “Hold” rating and an average price target of $289.75, while institutional investors own 87.75% of the company’s shares.
CME Group Inc. (NASDAQ:CME - Get Free Report) CEO Terrence Duffy sold 15,000 shares of the business's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $274.44, for a total transaction of $4,116,600.00. Following the completion of the sale, the chief executive officer directly owned 40,630 shares of the company's stock, valued at $11,150,497.20. This represents a 26.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
CME Group Trading Up 0.5%
Shares of NASDAQ:CME opened at $275.54 on Friday. The business's 50 day simple moving average is $263.56 and its 200 day simple moving average is $277.42. The company has a market capitalization of $99.08 billion, a P/E ratio of 23.37, a P/E/G ratio of 3.24 and a beta of 0.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16.
CME Group (NASDAQ:CME - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the prior year, the firm posted $2.96 EPS. CME Group's quarterly revenue was up .8% on a year-over-year basis. On average, research analysts anticipate that CME Group Inc. will post 12.27 EPS for the current fiscal year.
CME Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Wednesday, September 9th. CME Group's dividend payout ratio is presently 44.11%.
Wall Street Analysts Forecast Growth
CME has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut shares of CME Group from a "buy" rating to a "hold" rating and dropped their target price for the company from $286.00 to $270.00 in a research report on Wednesday, August 19th. Rothschild & Co Redburn upgraded shares of CME Group from a "neutral" rating to a "buy" rating and increased their price target for the stock from $316.00 to $323.00 in a research report on Thursday, June 11th. Raymond James Financial reissued an "outperform" rating and issued a $320.00 price objective on shares of CME Group in a research note on Thursday, July 2nd. Wall Street Zen upgraded shares of CME Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 29th. Finally, UBS Group cut their target price on CME Group from $310.00 to $260.00 and set a "buy" rating for the company in a research note on Monday, July 6th. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $289.75.
Read Our Latest Stock Analysis on CME Group
Institutional Trading of CME Group
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in shares of CME Group by 21,954.4% in the 2nd quarter. California State Teachers Retirement System now owns 131,243,023 shares of the financial services provider's stock valued at $28,982,397,000 after acquiring an additional 130,647,934 shares during the last quarter. BlackRock Inc. bought a new position in CME Group in the second quarter valued at about $6,749,965,000. State Street Corp boosted its stake in shares of CME Group by 0.4% during the fourth quarter. State Street Corp now owns 16,144,525 shares of the financial services provider's stock valued at $4,408,747,000 after purchasing an additional 56,725 shares in the last quarter. Norges Bank acquired a new stake in shares of CME Group during the fourth quarter valued at about $1,523,241,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of CME Group by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider's stock worth $1,344,776,000 after purchasing an additional 134,242 shares during the last quarter. Institutional investors own 87.75% of the company's stock.
About CME Group
(
Get Free Report)
CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for a broad range of financial and commodity products. Its exchange platforms enable participants to manage risk, discover prices and gain exposure to asset classes including interest rates, equity indexes, foreign exchange, energy, metals, agricultural commodities and digital assets.
The company's principal marketplaces include CME, CBOT, NYMEX and COMEX. Products are offered through futures and options contracts, with electronic trading available through CME Globex as well as exchange-based and privately negotiated transactions.
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