Tower Bridge Advisors Has $5.90 Million Stock Position in CME Group Inc. (NASDAQ:CME)

Tower Bridge Advisors lowered its position in CME Group Inc. (NASDAQ:CME) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 26,751 shares of the financial services provider’s stock after selling 133 shares during the period. Tower Bridge Advisors’ holdings in CME Group were worth $5,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors lifted its stake in CME Group by 24.1% during the first quarter. Capital International Investors now owns 15,809,175 shares of the financial services provider’s stock worth $3,403,557,000 after purchasing an additional 3,069,806 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of CME Group by 11.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock worth $1,038,676,000 after buying an additional 537,758 shares in the last quarter. GUARDCAP ASSET MANAGEMENT Ltd lifted its position in shares of CME Group by 1.1% during the 1st quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,009,068 shares of the financial services provider’s stock worth $863,112,000 after buying an additional 43,293 shares during the period. Raymond James & Associates boosted its stake in CME Group by 3.2% in the 2nd quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider’s stock valued at $595,530,000 after buying an additional 94,302 shares in the last quarter. Finally, Legal & General Group Plc grew its position in CME Group by 6.6% in the second quarter. Legal & General Group Plc now owns 2,835,075 shares of the financial services provider’s stock valued at $557,371,000 after acquiring an additional 176,004 shares during the period. 87.75% of the stock is currently owned by institutional investors.

CME Group Trading Up 0.8 %

CME stock opened at $225.28 on Friday. The business has a fifty day moving average of $222.62 and a 200-day moving average of $210.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a market cap of $81.18 billion, a P/E ratio of 23.69, a PEG ratio of 5.20 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) last announced its quarterly earnings data 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. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period in the prior year, the business posted $2.25 earnings per share. CME Group’s revenue was up 18.4% compared to the same quarter last year. As a group, equities research analysts expect that CME Group Inc. will post 10.22 EPS for the current year.

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.04%. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

Insider Activity at CME Group

In related news, insider Timothy Francis Mccourt sold 1,374 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $227.12, for a total transaction of $312,062.88. Following the sale, the insider now owns 7,275 shares of the company’s stock, valued at approximately $1,652,298. This trade represents a 15.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bryan T. Durkin sold 7,593 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $214.59, for a total value of $1,629,381.87. Following the completion of the transaction, the director now directly owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. The trade was a 12.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,621 shares of company stock worth $3,441,063. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley lifted their price objective on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler lifted their price target on shares of CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Barclays upped their price objective on shares of CME Group from $219.00 to $231.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lifted their target price on shares of CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their price target on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $224.47.

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.