Nisa Investment Advisors LLC lowered its position in CME Group Inc. (NASDAQ:CME – Free Report) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,573 shares of the financial services provider’s stock after selling 2,371 shares during the quarter. Nisa Investment Advisors LLC’s holdings in CME Group were worth $26,348,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in CME. BlackRock Inc. bought a new stake in shares of CME Group in the second quarter worth $6,749,965,000. Bank of New York Mellon Corp acquired a new stake in CME Group in the second quarter valued at $867,313,000. Alphabet Inc. acquired a new stake in CME Group in the second quarter valued at $769,376,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in CME Group in the second quarter valued at $629,771,000. Finally, Bank of America Corp DE bought a new position in CME Group during the 2nd quarter valued at $622,679,000. 87.75% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on CME shares. Weiss Ratings raised shares of CME Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded shares of CME Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 3rd. JPMorgan Chase & Co. upped their target price on shares of CME Group from $249.00 to $250.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Bank of America increased their price target on shares of CME Group from $226.00 to $230.00 and gave the stock an “underperform” rating in a research report on Thursday, July 23rd. Finally, Wells Fargo & Company increased their price target on shares of CME Group from $301.00 to $315.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 14th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $292.94.
Insider Buying and Selling at CME Group
In other CME Group news, Director William R. Shepard purchased 293 shares of CME Group stock in a transaction dated Friday, September 25th. The shares were bought at an average cost of $268.76 per share, for a total transaction of $78,746.68. Following the transaction, the director owned 263,289 shares in the company, valued at $70,761,551.64. This represents a 0.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Elizabeth A. Cook sold 500 shares of CME Group stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $280.11, for a total transaction of $140,055.00. Following the completion of the transaction, the director directly owned 17,916 shares of the company’s stock, valued at $5,018,450.76. This trade represents a 2.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.30% of the stock is owned by insiders.
Key Headlines Impacting CME Group
Here are the key news stories impacting CME Group this week:
- Positive Sentiment: Q3 results exceeded expectations: CME reported $1.74 billion in revenue, up 10.6% year over year and above the $1.71 billion consensus estimate. Adjusted EPS of $3.02 also topped expectations of approximately $2.99, while net income reached $1.04 billion. CME Group 3Q Profit, Revenue Rise on Higher Derivatives Volume
- Positive Sentiment: Record volumes provide a strong earnings catalyst: Average daily volume climbed to a third-quarter record of 29.4 million contracts, including 9 million contracts outside the United States. Clearing and transaction-fee revenue was approximately $1.4 billion, while market-data revenue rose 20% to a record $243 million. CME Group Q3 Earnings Surpass Estimates
- Positive Sentiment: Management indicated continued momentum: CEO Terry Duffy highlighted record participation and suggested CME is positioned for another record year. The company also returned nearly $1 billion to shareholders through dividends and buybacks. CME Group Earnings Call Signals Another Record Year
- Positive Sentiment: Product expansion could broaden future growth: CME plans to launch CME Securities Clearing on December 7 and is expanding into additional cryptocurrency and digital-asset products, including UNI futures and planned token-index products. CME outlines launch of CME Securities Clearing
- Neutral Sentiment: Key risks remain: The initial market reaction was cautious because expenses were higher than anticipated. CME also faces regulatory uncertainty involving its bitcoin perpetual-futures litigation and digital-asset rules, though the CFTC has urged dismissal of the lawsuit. CME Group stock reaction to Q3 earnings
CME Group Stock Performance
CME stock opened at $295.79 on Thursday. 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 market cap of $106.36 billion, a P/E ratio of 25.09, a P/E/G ratio of 3.80 and a beta of 0.24. CME Group Inc. has a 12-month low of $218.31 and a 12-month high of $329.16. The stock’s 50 day simple moving average is $276.11 and its 200 day simple moving average is $270.49.
CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.03. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.71 billion. CME Group had a return on equity of 15.60% and a net margin of 63.30%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the business posted $2.68 earnings per share. As a group, equities research analysts predict that CME Group Inc. will post 12.31 EPS for the current year.
CME Group Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th were paid a dividend of $1.30 per share. The ex-dividend date was Wednesday, September 9th. This represents a $5.20 annualized dividend and a yield of 1.8%. CME Group’s payout ratio is presently 44.11%.
CME Group Profile
CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.
CME Group’s exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.
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