Westbourne Investments Inc. Acquires 4,734 Shares of CME Group Inc. $CME

Westbourne Investments Inc. boosted its holdings in shares of CME Group Inc. (NASDAQ:CME) by 178.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,384 shares of the financial services provider’s stock after buying an additional 4,734 shares during the period. CME Group makes up about 1.1% of Westbourne Investments Inc.’s holdings, making the stock its 26th largest holding. Westbourne Investments Inc.’s holdings in CME Group were worth $2,035,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in CME Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 34,643,827 shares of the financial services provider’s stock valued at $9,190,661,000 after buying an additional 400,737 shares during the period. Raymond James Financial Inc. boosted its stake in CME Group by 9.7% during the first quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider’s stock valued at $1,091,401,000 after buying an additional 363,130 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in CME Group by 29.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider’s stock valued at $747,744,000 after buying an additional 648,591 shares during the period. AQR Capital Management LLC lifted its stake in CME Group by 10.3% during the first quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider’s stock worth $735,539,000 after purchasing an additional 260,065 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in CME Group by 11.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,727,809 shares of the financial services provider’s stock worth $723,660,000 after purchasing an additional 290,147 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

Insider Transactions at CME Group

In related news, insider Sunil Cutinho sold 11,896 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William R. Shepard purchased 256 shares of CME Group stock in a transaction that occurred on Wednesday, June 25th. The shares were acquired at an average price of $270.53 per share, for a total transaction of $69,255.68. Following the acquisition, the director owned 258,196 shares in the company, valued at $69,849,763.88. This trade represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on CME. Citigroup lifted their price target on CME Group from $265.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, July 3rd. Piper Sandler lifted their price target on CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th. Erste Group Bank lowered CME Group from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 24th. Wall Street Zen lowered CME Group from a “hold” rating to a “sell” rating in a research note on Sunday, July 13th. Finally, Barclays set a $298.00 price target on CME Group and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $260.60.

CME Group Stock Up 0.4%

CME opened at $259.83 on Wednesday. The company has a market cap of $93.64 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.69 and a beta of 0.43. The business’s 50-day moving average price is $272.81 and its 200-day moving average price is $270.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a 12 month low of $212.38 and a 12 month high of $290.79.

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

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date is Tuesday, September 9th. CME Group’s payout ratio is currently 48.40%.

CME Group Company 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.