Key Points
- Director Howard Siegel sold 2,000 CME Group shares for $606,000 at an average price of $303, reducing his stake by 9.14%. He retained 19,873 shares after the sale.
- CME Group’s latest quarter beat analyst expectations, reporting EPS of $3.02 versus $2.99 expected and revenue of $1.74 billion versus $1.71 billion; revenue grew 10.6% year over year.
- Analysts’ consensus rating was Hold, with an average price target of $314.44. The company’s quarterly dividend was $1.30 per share.
CME Group Inc. (NASDAQ:CME - Get Free Report) Director Howard Siegel sold 2,000 shares of the business's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $303.00, for a total value of $606,000.00. Following the completion of the sale, the director owned 19,873 shares of the company's stock, valued at $6,021,519. The trade was a 9.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
CME Group Stock Down 0.7%
Shares of NASDAQ:CME opened at $304.06 on Wednesday. CME Group Inc. has a 52-week low of $218.31 and a 52-week high of $329.16. The stock has a market cap of $108.83 billion, a P/E ratio of 25.23, a price-to-earnings-growth ratio of 3.74 and a beta of 0.15. The business's 50 day moving average is $281.46 and its 200 day moving average is $280.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.
CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $3.02 EPS for the quarter, topping the consensus estimate of $2.99 by $0.03. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. CME Group had a return on equity of 16.23% and a net margin of 63.33%. CME Group's quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business posted $2.68 EPS. Sell-side analysts predict that CME Group Inc. will post 12.34 EPS for the current year.
CME Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th were given a dividend of $1.30 per share. The ex-dividend date of this dividend was Wednesday, September 9th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 1.7%. CME Group's dividend payout ratio is presently 42.66%.
Wall Street Analyst Weigh In
CME has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered CME Group from a "buy" rating to a "hold" rating and cut their price target for the company from $286.00 to $270.00 in a research note on Wednesday, August 19th. CLSA set a $367.00 price objective on shares of CME Group in a research note on Thursday, October 22nd. Morgan Stanley increased their target price on shares of CME Group from $337.00 to $359.00 and gave the stock an "overweight" rating in a report on Thursday, October 22nd. Bank of America raised their target price on shares of CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a research report on Thursday, July 23rd. Finally, Piper Sandler reissued an "overweight" rating and set a $330.00 target price (up from $295.00) on shares of CME Group in a research report on Thursday, October 22nd. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $314.44.
Read Our Latest Research Report on CME Group
Institutional Trading of CME Group
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Endowment Wealth Management Inc. grew its stake in CME Group by 8.9% in the third quarter. Endowment Wealth Management Inc. now owns 1,086 shares of the financial services provider's stock valued at $284,000 after purchasing an additional 89 shares during the last quarter. Buckhead Capital Management LLC raised its holdings in CME Group by 3.9% in the third quarter. Buckhead Capital Management LLC now owns 3,588 shares of the financial services provider's stock worth $940,000 after purchasing an additional 134 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its holdings in CME Group by 5.5% in the third quarter. Kornitzer Capital Management Inc. KS now owns 46,080 shares of the financial services provider's stock worth $12,072,000 after purchasing an additional 2,409 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in CME Group by 12.6% in the third quarter. Pictet Asset Management Holding SA now owns 421,421 shares of the financial services provider's stock worth $110,404,000 after purchasing an additional 47,305 shares in the last quarter. Finally, Leelyn Smith LLC lifted its position in shares of CME Group by 4.1% during the third quarter. Leelyn Smith LLC now owns 12,172 shares of the financial services provider's stock valued at $3,189,000 after buying an additional 478 shares during the last quarter. Institutional investors own 87.75% of the company's stock.
Key Stories Impacting CME Group
Here are the key news stories impacting CME Group this week:
- Positive Sentiment: CME Group’s market-data revenue reached a record $243 million last quarter, providing a recurring revenue stream alongside trading-related income. Trading activity was also described as strong across several markets, which may support near-term results. CME Group market-data revenue article
- Neutral Sentiment: The CFTC has cleared stock perpetual futures for trading on U.S. registered exchanges. This could broaden the products available in the futures market, but the report does not specify the impact on CME Group. Article on CFTC approval of stock perpetual futures
- Negative Sentiment: Two insiders sold shares on Nov. 2. Julie Winkler sold 10,079 shares, reducing her position by about 32%, while director Howard Siegel sold 2,000 shares, reducing his holding by about 9%. Insider sales can weigh on sentiment, though both retained shares and the transactions do not necessarily indicate a change in the company’s outlook. CME Group insider sales report
CME Group Company Profile
(
Get Free Report)
CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.
CME Group's exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.
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