FineMark National Bank & Trust Sells 341 Shares of CME Group Inc. $CME

FineMark National Bank & Trust cut its stake in CME Group Inc. (NASDAQ:CME) by 6.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,603 shares of the financial services provider’s stock after selling 341 shares during the quarter. FineMark National Bank & Trust’s holdings in CME Group were worth $1,269,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Primecap Management Co. CA boosted its position in CME Group by 8.5% during the 2nd quarter. Primecap Management Co. CA now owns 1,988,495 shares of the financial services provider’s stock valued at $548,069,000 after acquiring an additional 156,575 shares in the last quarter. Stonebrook Private Inc. lifted its stake in shares of CME Group by 1.6% in the 2nd quarter. Stonebrook Private Inc. now owns 12,211 shares of the financial services provider’s stock valued at $3,363,000 after purchasing an additional 188 shares during the period. Wealthspire Advisors LLC boosted its position in shares of CME Group by 47.2% during the second quarter. Wealthspire Advisors LLC now owns 225,448 shares of the financial services provider’s stock valued at $62,138,000 after purchasing an additional 72,244 shares in the last quarter. Portside Wealth Group LLC grew its stake in CME Group by 5.1% in the second quarter. Portside Wealth Group LLC now owns 4,490 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 216 shares during the period. Finally, Empowered Funds LLC raised its holdings in CME Group by 251.0% in the second quarter. Empowered Funds LLC now owns 35,192 shares of the financial services provider’s stock worth $9,700,000 after purchasing an additional 25,165 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CME. The Goldman Sachs Group upped their target price on shares of CME Group from $262.00 to $263.00 and gave the stock a “sell” rating in a research report on Thursday, October 23rd. Morgan Stanley lifted their target price on shares of CME Group from $312.00 to $314.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Argus cut their price target on CME Group from $308.00 to $295.00 in a research note on Friday, October 31st. TD Cowen raised their price objective on CME Group from $288.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, October 23rd. Finally, Barclays lowered their price objective on CME Group from $298.00 to $280.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $287.65.

Insider Buying and Selling at CME Group

In related news, General Counsel Jonathan L. Marcus sold 392 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the transaction, the general counsel directly owned 7,851 shares in the company, valued at approximately $2,056,962. The trade was a 4.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sunil Cutinho sold 11,896 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total value of $3,229,407.12. Following the completion of the transaction, the insider owned 17,440 shares in the company, valued at $4,734,436.80. The trade was a 40.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 14,043 shares of company stock worth $3,791,486. 0.30% of the stock is owned by corporate insiders.

CME Group Trading Down 2.4%

CME Group stock opened at $272.49 on Thursday. CME Group Inc. has a one year low of $224.62 and a one year high of $290.79. The business’s fifty day moving average is $268.27 and its 200 day moving average is $272.82. The stock has a market capitalization of $98.26 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 4.41 and a beta of 0.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.05. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the prior year, the business earned $2.68 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, sell-side analysts predict that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Friday, December 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Friday, December 12th. CME Group’s dividend payout ratio is 48.45%.

CME Group 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.