CME Group Inc. (NASDAQ:CME) Stock Holdings Lifted by Eagle Ridge Investment Management

25 Oct 2024, 13:00 by Mitch Edgeman · The Markets Daily

Eagle Ridge Investment Management raised its position in shares of CME Group Inc. (NASDAQ:CME – Free Report) by 78.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,257 shares of the financial services provider’s stock after purchasing an additional 54,238 shares during the period. CME Group accounts for about 2.4% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 14th largest position. Eagle Ridge Investment Management’s holdings in CME Group were worth $27,197,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CME. Salomon & Ludwin LLC acquired a new position in CME Group during the first quarter worth $28,000. Y.D. More Investments Ltd bought a new position in shares of CME Group in the 2nd quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in CME Group by 62.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 74 shares during the last quarter. McClarren Financial Advisors Inc. boosted its position in CME Group by 66.1% during 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. Finally, Asset Dedication LLC grew its holdings in 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 purchasing an additional 170 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CME. Barclays boosted 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $235.00 price objective on shares of CME Group in a research note on Thursday. Citigroup increased their target price on CME Group from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America lifted their price target on CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. 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 company. Based on data from MarketBeat.com, CME Group has a consensus rating of “Hold” and an average price target of $222.07.

Read Our Latest Stock Report on CME

CME Group Price Performance

Shares of CME Group stock opened at $229.69 on Friday. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $230.36. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $82.70 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.55. The firm’s 50-day simple moving average is $218.08 and its 200-day simple moving average is $208.66.

CME Group (NASDAQ:CME – Get Free Report) last released 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. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The company’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 EPS. As a group, research analysts expect that CME Group Inc. will post 10.04 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Monday, September 9th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.00%. CME Group’s payout ratio is presently 52.33%.

Insider Buying and Selling at CME Group

In related news, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other CME Group news, Director Bryan T. Durkin sold 7,593 shares of CME Group stock in a transaction on Friday, August 30th. The stock was 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 owns 55,607 shares in the company, valued at approximately $11,932,706.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction 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 in the company, valued at $2,877,504.39. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

About CME Group

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