Pinnacle Financial Partners Inc Purchases 1,925 Shares of CME Group Inc. (NASDAQ:CME)

Pinnacle Financial Partners Inc grew its stake in CME Group Inc. (NASDAQ:CME) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,159 shares of the financial services provider’s stock after purchasing an additional 1,925 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in CME Group were worth $22,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd bought a new stake in CME Group during the 2nd quarter worth approximately $36,000. McClarren Financial Advisors Inc. grew its holdings in CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 78 shares during the period. Asset Dedication LLC increased its holdings in shares of CME Group by 515.2% during the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 170 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 74 shares in the last quarter. Finally, Bank & Trust Co bought a new stake in CME Group in the 2nd quarter worth approximately $76,000. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

CME Group Trading Up 0.2 %

Shares of CME stock opened at $226.31 on Wednesday. The company has a market capitalization of $81.49 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 5.68 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $230.36. The firm has a 50-day moving average price of $222.20 and a 200 day moving average price of $210.04.

CME Group (NASDAQ:CME) last released its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.03. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. CME Group’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.25 earnings per share. Research analysts forecast that CME Group Inc. will post 10.23 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 9th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Monday, December 9th. CME Group’s dividend payout ratio is presently 48.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CME shares. Keefe, Bruyette & Woods lifted their target price on shares of CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Morgan Stanley boosted their price target on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer increased their price objective on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a report on Monday. Finally, Piper Sandler boosted their price target on CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $224.47.

Insiders Place Their Bets

In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total transaction of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CME Group news, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction on Sunday, September 15th. The shares were sold at an average price of $216.99, for a total transaction of $163,610.46. Following the completion of the sale, the chief financial officer now owns 13,261 shares in the company, valued at $2,877,504.39. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the completion of the sale, the director now directly owns 25,067 shares in the company, valued at approximately $5,587,935.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,621 shares of company stock worth $3,441,063 over the last quarter. 0.30% of the stock is owned by corporate insiders.

CME Group Profile

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.