Manitou Investment Management Ltd. Sells 50 Shares of CME Group Inc. $CME

Manitou Investment Management Ltd. trimmed its stake in shares of CME Group Inc. (NASDAQ:CME) by 1.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,048 shares of the financial services provider’s stock after selling 50 shares during the quarter. CME Group comprises about 0.2% of Manitou Investment Management Ltd.’s portfolio, making the stock its 18th biggest holding. Manitou Investment Management Ltd.’s holdings in CME Group were worth $1,116,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of CME. Wayfinding Financial LLC acquired a new position in shares of CME Group during the 1st quarter worth $25,000. Webster Bank N. A. raised its holdings in shares of CME Group by 206.9% during the 2nd quarter. Webster Bank N. A. now owns 89 shares of the financial services provider’s stock worth $25,000 after buying an additional 60 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of CME Group by 122.2% during the 1st quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Highline Wealth Partners LLC raised its holdings in shares of CME Group by 84.3% during the 2nd quarter. Highline Wealth Partners LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of CME Group by 612.5% during 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 in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Insider Buying and Selling

In other CME Group news, insider Timothy Francis Mccourt sold 379 shares of the company’s stock in a transaction dated 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 owned 9,508 shares in the company, valued at approximately $2,470,463.64. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William R. Shepard purchased 262 shares of CME Group stock in a transaction on 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 transaction, the director directly owned 258,459 shares in the company, valued at approximately $68,540,742.21. The trade was a 0.10% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 13,043 shares of company stock worth $3,527,956. Corporate insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Wall Street Zen cut CME Group from a “hold” rating to a “sell” rating in a report on Sunday, July 13th. JPMorgan Chase & Co. upped their target price on CME Group from $246.00 to $252.00 and gave the stock an “underweight” rating in a report on Thursday, September 25th. Piper Sandler upped their target price on CME Group from $283.00 to $296.00 and gave the stock an “overweight” rating in a report on Tuesday, July 15th. Jefferies Financial Group lowered their target price on CME Group from $313.00 to $304.00 and set a “buy” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on CME Group from $276.00 to $266.00 and set a “hold” rating for the company in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, CME Group presently has an average rating of “Hold” and an average target price of $281.00.

CME Group Trading Up 1.0%

NASDAQ CME opened at $271.45 on Friday. The business’s 50-day moving average price is $268.89 and its two-hundred day moving average price is $271.22. CME Group Inc. has a 12 month low of $213.94 and a 12 month high of $290.79. The firm has a market capitalization of $97.83 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 5.72 and a beta of 0.41. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

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

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Tuesday, September 9th. CME Group’s payout ratio is 48.40%.

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.