abrdn plc Decreases Stock Position in CME Group Inc. (NASDAQ:CME)

29 Oct 2024, 09:24 by Doug Wharley · The Cerbat Gem

abrdn plc lessened its stake in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 1.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 650,673 shares of the financial services provider’s stock after selling 9,686 shares during the quarter. abrdn plc’s holdings in CME Group were worth $142,227,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. CVA Family Office LLC increased its stake in CME Group by 11.8% in the third quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 46 shares during the period. Capital Advisors Ltd. LLC increased its stake in CME Group by 4.3% in the first quarter. Capital Advisors Ltd. LLC now owns 1,160 shares of the financial services provider’s stock worth $250,000 after purchasing an additional 48 shares during the period. Lester Murray Antman dba SimplyRich increased its stake in CME Group by 0.7% in the second quarter. Lester Murray Antman dba SimplyRich now owns 7,667 shares of the financial services provider’s stock worth $1,507,000 after purchasing an additional 50 shares during the period. Essex LLC increased its stake in CME Group by 3.3% in the first quarter. Essex LLC now owns 1,649 shares of the financial services provider’s stock worth $355,000 after purchasing an additional 52 shares during the period. Finally, Quent Capital LLC increased its stake in CME Group by 10.2% in the third quarter. Quent Capital LLC now owns 593 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Stock Up 0.9 %

Shares of CME stock opened at $228.12 on Tuesday. The stock has a 50 day moving average of $219.32 and a 200 day moving average of $208.98. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market cap of $82.14 billion, a P/E ratio of 25.95, a P/E/G ratio of 7.76 and a beta of 0.55. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $230.36.

CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.03. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. CME Group’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the business earned $2.25 earnings per share. As a group, sell-side analysts expect that CME Group Inc. will post 10.04 EPS for the current year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Monday, September 9th. CME Group’s payout ratio is currently 52.33%.

Insider Buying and Selling at CME Group

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at approximately $2,877,504.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Bryan T. Durkin sold 7,593 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the sale, the director now directly owns 55,607 shares in the company, valued at approximately $11,932,706.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CME shares. Redburn Atlantic lowered CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price on the stock. in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price objective on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Bank of America increased their price target on CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price target on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research note on Thursday, October 3rd. Finally, Oppenheimer increased their price target on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $222.73.

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