Independent Solutions Wealth Management LLC Invests $1.34 Million in CME Group Inc. $CME

Independent Solutions Wealth Management LLC acquired a new position in CME Group Inc. (NASDAQ:CME) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 4,866 shares of the financial services provider’s stock, valued at approximately $1,341,000.

Several other large investors have also made changes to their positions in CME. GQG Partners LLC increased its stake in shares of CME Group by 7,676.3% in the 1st quarter. GQG Partners LLC now owns 2,205,041 shares of the financial services provider’s stock valued at $584,975,000 after buying an additional 2,176,685 shares during the period. Wellington Management Group LLP grew its holdings in CME Group by 370.5% during the first quarter. Wellington Management Group LLP now owns 2,653,957 shares of the financial services provider’s stock worth $704,068,000 after purchasing an additional 2,089,935 shares during the period. Nuveen LLC acquired a new stake in shares of CME Group during the 1st quarter worth about $218,842,000. Alliancebernstein L.P. lifted its holdings in shares of CME Group by 185.5% during the first quarter. Alliancebernstein L.P. now owns 1,244,608 shares of the financial services provider’s stock worth $330,182,000 after buying an additional 808,740 shares in the last quarter. Finally, Egerton Capital UK LLP increased its stake in CME Group by 79.4% during the 1st quarter. Egerton Capital UK LLP now owns 1,730,194 shares of the financial services provider’s stock worth $459,003,000 after acquiring an additional 765,773 shares during the period. Institutional investors own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

CME has been the subject of several research reports. Weiss Ratings reissued a “buy (b)” rating on shares of CME Group in a research note on Saturday, September 27th. UBS Group dropped their price target on CME Group from $305.00 to $285.00 and set a “neutral” rating on the stock in a research note on Monday, September 8th. Citigroup raised shares of CME Group from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $275.00 to $300.00 in a research report on Thursday, September 25th. JPMorgan Chase & Co. lifted their price target on CME Group from $246.00 to $252.00 and gave the stock an “underweight” rating in a report on Thursday, September 25th. Finally, Piper Sandler raised their price target on shares of CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $274.15.

CME Group Trading Down 1.0%

Shares of CME opened at $262.05 on Tuesday. The firm has a fifty day simple moving average of $269.74 and a two-hundred day simple moving average of $271.16. The stock has a market capitalization of $94.44 billion, a P/E ratio of 25.37, a PEG ratio of 5.57 and a beta of 0.41. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a twelve month low of $213.94 and a twelve month high of $290.79.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.05. The company had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. CME Group’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.56 earnings per share. On average, research analysts anticipate that CME Group Inc. will post 10.49 EPS for the current year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, September 9th. CME Group’s payout ratio is 48.40%.

Insider Transactions at CME Group

In other news, insider Timothy Francis Mccourt sold 379 shares of the business’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total value of $98,475.57. Following the sale, the insider directly owned 9,508 shares in the company, valued at $2,470,463.64. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Jonathan L. Marcus sold 392 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $262.00, for a total value of $102,704.00. Following the transaction, the general counsel owned 7,851 shares of the company’s stock, valued at approximately $2,056,962. The trade was a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,043 shares of company stock valued at $3,527,956. Company insiders own 0.30% of the company’s stock.

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.