Renasant Bank Acquires 2,057 Shares of CME Group Inc. $CME

Renasant Bank increased its holdings in shares of CME Group Inc. (NASDAQ:CME) by 183.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,180 shares of the financial services provider’s stock after purchasing an additional 2,057 shares during the period. Renasant Bank’s holdings in CME Group were worth $702,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Empowered Funds LLC grew its position in shares of CME Group by 11.5% during the 1st quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock worth $2,660,000 after buying an additional 1,037 shares during the period. Marshall Wace LLP lifted its position in shares of CME Group by 103.1% during the 2nd quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 121,707 shares during the period. Federated Hermes Inc. lifted its position in shares of CME Group by 1,325.2% during the 2nd quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after acquiring an additional 21,918 shares during the period. Nebula Research & Development LLC acquired a new position in shares of CME Group during the 2nd quarter valued at $992,000. Finally, The Manufacturers Life Insurance Company boosted its stake in CME Group by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock worth $79,344,000 after acquiring an additional 7,397 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director William R. Shepard purchased 325 shares of the business’s stock in a transaction on Thursday, June 25th. The stock was acquired at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the purchase, the director owned 260,442 shares of the company’s stock, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

CME Group Stock Performance

Shares of CME stock opened at $285.50 on Tuesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $254.60 and a two-hundred day simple moving average of $278.79. CME Group Inc. has a 12 month low of $218.31 and a 12 month high of $329.16. The firm has a market capitalization of $102.66 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 3.40 and a beta of 0.23.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.68 billion. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $2.96 earnings per share. Analysts forecast that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be given a $1.30 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a yield of 1.8%. CME Group’s dividend payout ratio (DPR) is presently 44.11%.

Analyst Upgrades and Downgrades

CME has been the subject of a number of research reports. Piper Sandler reduced their price target on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating for the company in a report on Wednesday, July 15th. The Goldman Sachs Group cut their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating on the stock in a research report on Tuesday, June 30th. Raymond James Financial restated an “outperform” rating and issued a $320.00 target price on shares of CME Group in a research note on Thursday, July 2nd. Wall Street Zen raised CME Group from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Keefe, Bruyette & Woods raised CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a research note on Thursday, June 18th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $288.56.

About CME Group

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.