Busey Bank Trims Stake in CME Group Inc. (NASDAQ:CME)

25 Oct 2024, 16:41 by Danessa Lincoln · The Markets Daily

Busey Bank cut its stake in CME Group Inc. (NASDAQ:CME – Free Report) by 0.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,900 shares of the financial services provider’s stock after selling 93 shares during the period. Busey Bank’s holdings in CME Group were worth $5,935,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CME. CVA Family Office LLC grew its stake in shares of 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 acquiring an additional 46 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in CME Group by 4.3% in the 1st 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 in the last quarter. Lester Murray Antman dba SimplyRich grew its position in CME Group by 0.7% during the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 7,667 shares of the financial services provider’s stock valued at $1,507,000 after purchasing an additional 50 shares during the last quarter. Essex LLC increased its stake in CME Group by 3.3% during the 1st quarter. Essex LLC now owns 1,649 shares of the financial services provider’s stock valued at $355,000 after purchasing an additional 52 shares in the last quarter. Finally, Quent Capital LLC raised its holdings 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 buying an additional 55 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the stock in a transaction that occurred 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 sale, the director now owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 sale, the director now owns 55,607 shares in the company, valued at $11,932,706.13. 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 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 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 directly owns 13,261 shares in the company, valued at $2,877,504.39. This trade represents 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 insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on CME shares. Morgan Stanley increased their target price on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their price objective on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Bank of America lifted their price objective on CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Oppenheimer upped their target price on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $235.00 price target on shares of CME Group in a report on Thursday. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $222.07.

Check Out Our Latest Analysis on CME

CME Group Stock Performance

CME opened at $229.69 on Friday. The stock has a market cap of $82.70 billion, a P/E ratio of 26.13, a P/E/G ratio of 7.76 and a beta of 0.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a fifty day moving average price of $218.08 and a 200 day moving average price of $208.66. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $230.36.

CME Group (NASDAQ:CME – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, beating the consensus estimate of $2.65 by $0.03. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $2.25 earnings per share. CME Group’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts anticipate that CME Group Inc. will post 10.04 earnings per share for the current year.

CME Group Announces Dividend

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

CME Group Company Profile

(Free Report)