Prudential PLC Boosts Stock Holdings in CME Group Inc. (NASDAQ:CME)

Prudential PLC boosted its stake in shares of CME Group Inc. (NASDAQ:CME) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 19,218 shares of the financial services provider’s stock after buying an additional 277 shares during the period. Prudential PLC’s holdings in CME Group were worth $5,098,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Wayfinding Financial LLC bought a new stake in shares of CME Group in the 1st quarter worth about $25,000. Cornerstone Planning Group LLC lifted its holdings in shares of CME Group by 122.2% in the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Golden State Wealth Management LLC increased its stake in CME Group by 612.5% in the 1st quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider’s stock worth $30,000 after buying an additional 98 shares during the period. Alpine Bank Wealth Management purchased a new position in CME Group in the 1st quarter worth about $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in CME Group in the 1st quarter worth about $32,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Down 0.7%

Shares of CME Group stock opened at $273.92 on Thursday. The firm’s 50 day moving average price is $275.53 and its 200-day moving average price is $266.60. The company has a market cap of $98.72 billion, a P/E ratio of 26.52, a PEG ratio of 4.89 and a beta of 0.44. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. CME Group Inc. has a 52-week low of $204.16 and a 52-week high of $290.79.

CME Group (NASDAQ:CME) last released its earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.05. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.68 billion. CME Group had a net margin of 58.48% and a return on equity of 14.60%. CME Group’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the business earned $2.56 EPS. On average, sell-side analysts predict that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Tuesday, September 9th will be paid a $1.25 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. CME Group’s dividend payout ratio (DPR) is 48.40%.

Insider Buying and Selling

In related news, Director Daniel G. Kaye sold 500 shares of CME Group stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $282.42, for a total value of $141,210.00. Following the completion of the sale, the director directly owned 3,668 shares in the company, valued at $1,035,916.56. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Jonathan L. Marcus sold 390 shares of CME Group stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $277.50, for a total transaction of $108,225.00. Following the sale, the general counsel owned 6,708 shares of the company’s stock, valued at approximately $1,861,470. The trade was a 5.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,450 shares of company stock worth $676,663 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Keefe, Bruyette & Woods raised their price target on shares of CME Group from $265.00 to $273.00 and gave the stock a “market perform” rating in a research note on Thursday, April 24th. Piper Sandler raised their price target on shares of 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 downgraded shares of CME Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 24th. Oppenheimer raised their target price on shares of CME Group from $300.00 to $303.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of CME Group from $223.00 to $211.00 and set an “underweight” rating on the stock in a research report on Thursday, April 24th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Hold” and an average target price of $261.93.

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.