Procyon Advisors LLC Reduces Stock Position in CME Group Inc. (NASDAQ:CME)

Procyon Advisors LLC trimmed its holdings in shares of CME Group Inc. (NASDAQ:CME) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,559 shares of the financial services provider’s stock after selling 1,334 shares during the period. Procyon Advisors LLC’s holdings in CME Group were worth $4,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in CME. Alaska Permanent Fund Corp raised its stake in CME Group by 81.4% during the 1st quarter. Alaska Permanent Fund Corp now owns 44,534 shares of the financial services provider’s stock worth $9,588,000 after acquiring an additional 19,985 shares in the last quarter. Oak Harvest Investment Services lifted its position in CME Group by 66.5% during the 1st quarter. Oak Harvest Investment Services now owns 45,093 shares of the financial services provider’s stock worth $9,708,000 after acquiring an additional 18,017 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of CME Group by 21.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,205 shares of the financial services provider’s stock worth $9,477,000 after purchasing an additional 8,443 shares in the last quarter. Duality Advisers LP acquired a new position in shares of CME Group during the 1st quarter worth $1,455,000. Finally, SG Americas Securities LLC increased its holdings in shares of CME Group by 312.2% in the 1st quarter. SG Americas Securities LLC now owns 56,768 shares of the financial services provider’s stock valued at $12,222,000 after purchasing an additional 42,996 shares in the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Insiders Place Their Bets

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total transaction of $163,610.46. Following the transaction, the chief financial officer now owns 13,261 shares in the company, valued at $2,877,504.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Bryan T. Durkin sold 7,593 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the sale, the director now owns 55,607 shares in the company, valued at $11,932,706.13. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now directly owns 13,261 shares in the company, valued at approximately $2,877,504.39. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of CME Group from $209.00 to $219.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. The Goldman Sachs Group upped their target price on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a report on Thursday, October 3rd. Piper Sandler upped their price objective on CME Group from $225.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Finally, Citigroup upped their target price on shares of CME Group from $240.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, CME Group presently has a consensus rating of “Hold” and a consensus price target of $217.71.

CME Group Trading Down 0.3 %

Shares of NASDAQ CME opened at $221.00 on Monday. The company has a market cap of $79.57 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 7.76 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $226.78. The stock’s 50 day simple moving average is $214.61 and its 200 day simple moving average is $207.88.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.03. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.30 EPS. Equities research analysts expect that CME Group Inc. will post 10.04 EPS for the current year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.08%. The ex-dividend date was Monday, September 9th. CME Group’s dividend payout ratio is currently 52.33%.

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.