Cambiar Investors LLC Sells 98,827 Shares of CME Group Inc. $CME

Cambiar Investors LLC reduced its holdings in shares of CME Group Inc. (NASDAQ:CME) by 38.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 161,211 shares of the financial services provider’s stock after selling 98,827 shares during the period. CME Group comprises 1.9% of Cambiar Investors LLC’s portfolio, making the stock its 21st biggest position. Cambiar Investors LLC’s holdings in CME Group were worth $44,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CME. OMNI 360 Wealth Inc. bought a new position in CME Group in the first quarter worth approximately $367,000. Fulcrum Equity Management purchased a new position in shares of CME Group in the 1st quarter valued at $258,000. AIA Group Ltd increased its holdings in shares of CME Group by 17.8% in the 1st quarter. AIA Group Ltd now owns 16,645 shares of the financial services provider’s stock valued at $4,416,000 after acquiring an additional 2,510 shares during the period. 49 Wealth Management LLC purchased a new position in shares of CME Group in the 1st quarter valued at $602,000. Finally, Lockheed Martin Investment Management Co. increased its holdings in shares of CME Group by 34.1% in the 1st quarter. Lockheed Martin Investment Management Co. now owns 58,690 shares of the financial services provider’s stock valued at $15,570,000 after acquiring an additional 14,910 shares during the period. 87.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Timothy Francis Mccourt sold 379 shares of the stock in a transaction on Tuesday, September 16th. The stock was 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 approximately $2,470,463.64. This trade represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William R. Shepard acquired 262 shares of CME Group stock in a transaction dated Thursday, September 25th. The stock was bought at an average price of $265.19 per share, for a total transaction of $69,479.78. Following the completion of the purchase, the director owned 258,459 shares of the company’s stock, valued at approximately $68,540,742.21. This represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. 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 corporate insiders.

CME Group Stock Performance

NASDAQ CME opened at $265.49 on Friday. The stock has a market capitalization of $95.68 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 4.41 and a beta of 0.41. CME Group Inc. has a twelve month low of $213.94 and a twelve month high of $290.79. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $265.83 and a 200 day moving average of $272.09.

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

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th were paid 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 payout ratio is 48.45%.

Analyst Upgrades and Downgrades

CME has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their target price on CME Group from $283.00 to $287.00 and gave the stock a “market perform” rating in a research note on Monday, October 13th. UBS Group dropped their target price on CME Group from $285.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. 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 report on Tuesday, July 15th. Barclays lowered their price target on CME Group from $298.00 to $280.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their price target on CME Group from $252.00 to $256.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $285.19.

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.