Texas Permanent School Fund Corp Sells 13,674 Shares of CME Group Inc. $CME

by · The Markets Daily

Texas Permanent School Fund Corp trimmed its holdings in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 32.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,282 shares of the financial services provider’s stock after selling 13,674 shares during the quarter. Texas Permanent School Fund Corp’s holdings in CME Group were worth $7,795,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CME. Vanguard Group Inc. grew its position in shares of CME Group by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 35,176,376 shares of the financial services provider’s stock valued at $9,695,313,000 after acquiring an additional 532,549 shares during the period. Geode Capital Management LLC raised its holdings in CME Group by 3.6% in the 2nd quarter. Geode Capital Management LLC now owns 9,178,681 shares of the financial services provider’s stock worth $2,524,271,000 after purchasing an additional 319,899 shares during the period. Norges Bank purchased a new position in CME Group during the second quarter valued at $1,571,447,000. Ameriprise Financial Inc. grew its holdings in CME Group by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 4,682,066 shares of the financial services provider’s stock valued at $1,289,910,000 after purchasing an additional 92,925 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in CME Group by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,833,090 shares of the financial services provider’s stock worth $1,056,476,000 after buying an additional 238,522 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Insider Transactions at CME Group

In other CME Group news, General Counsel Jonathan L. Marcus sold 392 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the completion of the transaction, the general counsel owned 7,851 shares in the company, valued at $2,056,962. This trade represents a 4.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Terrence A. Duffy sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $269.55, for a total value of $6,738,750.00. Following the sale, the chief executive officer directly owned 65,804 shares in the company, valued at $17,737,468.20. This trade represents a 27.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,392 shares of company stock valued at $7,104,984 in the last ninety days. Corporate insiders own 0.30% of the company’s stock.

CME Group Price Performance

CME stock opened at $272.18 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The company’s fifty day moving average price is $272.06 and its 200-day moving average price is $272.13. CME Group Inc. has a one year low of $224.62 and a one year high of $290.79. The company has a market capitalization of $98.15 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 4.08 and a beta of 0.28.

CME Group (NASDAQ:CME – Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.05. CME Group had a net margin of 58.84% and a return on equity of 14.61%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the firm posted $2.68 EPS. CME Group’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, equities analysts anticipate that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Friday, December 12th will be 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 is Friday, December 12th. CME Group’s payout ratio is currently 48.45%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of CME Group from $313.00 to $304.00 and set a “buy” rating for the company in a report on Friday, October 10th. JPMorgan Chase & Co. upped their price target on shares of CME Group from $252.00 to $256.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 14th. Bank of America raised their price objective on shares of CME Group from $201.00 to $209.00 in a research report on Wednesday, December 10th. Piper Sandler upped their target price on shares of CME Group from $296.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of CME Group in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus target price of $290.00.

Check Out Our Latest Stock Analysis on CME

CME Group Company Profile

(Free Report)

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.

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