Legacy Trust Sells 486 Shares of CME Group Inc. $CME

Legacy Trust trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 30.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,134 shares of the financial services provider’s stock after selling 486 shares during the period. Legacy Trust’s holdings in CME Group were worth $313,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in CME. Thurston Springer Miller Herd & Titak Inc. grew its stake in CME Group by 78.6% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 484 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 213 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in CME Group by 3.0% in the 1st quarter. SeaCrest Wealth Management LLC now owns 1,379 shares of the financial services provider’s stock worth $366,000 after acquiring an additional 40 shares in the last quarter. Radnor Capital Management LLC grew its stake in CME Group by 32.9% in the 1st quarter. Radnor Capital Management LLC now owns 1,415 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 350 shares in the last quarter. Sivia Capital Partners LLC grew its stake in CME Group by 19.6% in the 1st quarter. Sivia Capital Partners LLC now owns 1,125 shares of the financial services provider’s stock worth $298,000 after acquiring an additional 184 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in CME Group by 2.3% in the 1st quarter. UMB Bank n.a. now owns 73,283 shares of the financial services provider’s stock worth $19,441,000 after acquiring an additional 1,637 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CME. JPMorgan Chase & Co. upped their target price on shares of CME Group from $246.00 to $252.00 and gave the stock an “underweight” rating in a research note on Thursday, September 25th. Barclays set a $298.00 target price on shares of CME Group and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Citigroup upgraded shares of CME Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $275.00 to $300.00 in a research note on Thursday, September 25th. Morgan Stanley increased their price objective on shares of CME Group from $303.00 to $312.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of CME Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, CME Group currently has a consensus rating of “Hold” and an average target price of $274.15.

Insider Activity

In related news, insider Timothy Francis Mccourt sold 379 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $259.83, for a total transaction of $98,475.57. Following the completion of the sale, the insider owned 9,508 shares of the company’s stock, valued at $2,470,463.64. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William R. Shepard bought 262 shares of the firm’s stock in a transaction that occurred on Thursday, September 25th. The shares were purchased at an average cost of $265.19 per share, with a total value of $69,479.78. Following the transaction, the director directly owned 258,459 shares of the company’s stock, valued at $68,540,742.21. The trade was a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders sold 13,043 shares of company stock worth $3,527,956. 0.30% of the stock is currently owned by insiders.

CME Group Price Performance

NASDAQ CME opened at $264.67 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s 50 day moving average price is $269.98 and its 200-day moving average price is $271.13. CME Group Inc. has a 52-week low of $213.94 and a 52-week high of $290.79. The company has a market cap of $95.38 billion, a PE ratio of 25.62, a P/E/G ratio of 5.57 and a beta of 0.41.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. During the same quarter in the prior year, the company posted $2.56 earnings per share. CME Group’s revenue for the quarter was up 10.4% compared to the same quarter last year. Sell-side analysts forecast that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

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

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.