Manitou Investment Management Ltd. Sells 2,029 Shares of CME Group Inc. $CME

Manitou Investment Management Ltd. cut its position in CME Group Inc. (NASDAQ:CME) by 89.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 230 shares of the financial services provider’s stock after selling 2,029 shares during the period. Manitou Investment Management Ltd.’s holdings in CME Group were worth $51,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CME. Empowered Funds LLC boosted its stake in CME Group by 11.5% during the 1st quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock valued at $2,660,000 after purchasing an additional 1,037 shares during the last quarter. Marshall Wace LLP raised its stake in shares of CME Group by 103.1% in the second quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock worth $1,018,000 after purchasing an additional 121,707 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of CME Group by 1,325.2% during the second quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after purchasing an additional 21,918 shares in the last quarter. Nebula Research & Development LLC bought a new position in shares of CME Group during the second quarter valued at $992,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of 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 valued at $79,344,000 after buying an additional 7,397 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Performance

Shares of CME opened at $264.32 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16. The firm has a market capitalization of $95.04 billion, a P/E ratio of 22.42, a PEG ratio of 3.08 and a beta of 0.23. The business has a fifty day moving average of $249.44 and a 200 day moving average of $280.90.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $2.99 EPS for the quarter, beating analysts’ consensus estimates of $2.91 by $0.08. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%.CME Group’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.96 earnings per share. As a group, sell-side analysts anticipate that CME Group Inc. will post 12.27 EPS for the current year.

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be given a dividend of $1.30 per share. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 2.0%. CME Group’s dividend payout ratio is presently 44.11%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CME shares. Raymond James Financial reiterated an “outperform” rating and issued a $320.00 price objective on shares of CME Group in a report on Thursday, July 2nd. TD Cowen lowered their target price on shares of CME Group from $323.00 to $273.00 and set a “buy” rating on the stock in a research note on Monday, June 22nd. Barclays dropped their price target on shares of CME Group from $316.00 to $270.00 and set an “equal weight” rating on the stock in a report on Thursday, July 9th. Keefe, Bruyette & Woods upgraded shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target for the company in a research note on Thursday, June 18th. Finally, Weiss Ratings cut shares of CME Group from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Eleven investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $291.81.

Insider Transactions at CME Group

In related news, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $298.51, for a total transaction of $10,447,850.00. Following the completion of the sale, the chief executive officer directly owned 55,630 shares in the company, valued at approximately $16,606,111.30. The trade was a 38.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William R. Shepard bought 325 shares of CME Group stock in a transaction on Thursday, June 25th. The shares were acquired at an average cost of $230.57 per share, with a total value of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares of the company’s stock, valued at $60,050,111.94. The trade was a 0.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.30% of the company’s stock.

CME Group Company Profile

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.