Avalon Investment & Advisory Reduces Stake in CME Group Inc (NASDAQ:CME)

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Avalon Investment & Advisory lessened its position in CME Group Inc (NASDAQ:CME) by 8.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,538 shares of the financial services provider’s stock after selling 6,464 shares during the quarter. Avalon Investment & Advisory’s holdings in CME Group were worth $11,303,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CME. BlackRock Inc. lifted its stake in CME Group by 4.6% in the 1st quarter. BlackRock Inc. now owns 26,645,530 shares of the financial services provider’s stock worth $4,607,281,000 after purchasing an additional 1,179,970 shares in the last quarter. Edgewood Management LLC lifted its position in CME Group by 3.2% in the first quarter. Edgewood Management LLC now owns 7,849,764 shares of the financial services provider’s stock valued at $1,357,303,000 after acquiring an additional 246,376 shares during the last quarter. Parnassus Investments CA lifted its position in CME Group by 9.7% in the first quarter. Parnassus Investments CA now owns 3,903,136 shares of the financial services provider’s stock valued at $674,891,000 after acquiring an additional 346,212 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CME Group by 1.7% in the first quarter. Bank of New York Mellon Corp now owns 3,439,199 shares of the financial services provider’s stock valued at $594,670,000 after buying an additional 58,441 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of CME Group by 4.4% in the first quarter. Fiera Capital Corp now owns 3,437,750 shares of the financial services provider’s stock valued at $594,424,000 after buying an additional 145,986 shares during the last quarter. Institutional investors own 84.83% of the company’s stock.

In other news, Director William R. Shepard bought 771 shares of CME Group stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average price of $178.10 per share, for a total transaction of $137,315.10. Following the purchase, the director now directly owns 771 shares of the company’s stock, valued at approximately $137,315.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Timothy S. Bitsberger sold 600 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $191.32, for a total value of $114,792.00. Following the sale, the director now directly owns 9,927 shares in the company, valued at $1,899,233.64. The disclosure for this sale can be found here. Insiders have sold a total of 9,500 shares of company stock worth $1,593,810 in the last ninety days. Insiders own 1.20% of the company’s stock.

Shares of CME stock traded up $0.98 during mid-day trading on Thursday, hitting $173.18. The company’s stock had a trading volume of 34,239 shares, compared to its average volume of 1,700,254. CME Group Inc has a 52-week low of $131.80 and a 52-week high of $225.36. The business has a 50-day moving average price of $166.66 and a 200 day moving average price of $182.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $62.18 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 5.71 and a beta of 0.30.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.62 by $0.01. CME Group had a return on equity of 9.93% and a net margin of 46.39%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $1.76 earnings per share. The company’s revenue was down 7.1% on a year-over-year basis. Equities research analysts predict that CME Group Inc will post 7.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, September 9th. This represents a $3.40 annualized dividend and a yield of 1.96%. CME Group’s dividend payout ratio (DPR) is presently 50.00%.

A number of brokerages have recently issued reports on CME. Rosenblatt Securities dropped their price target on shares of CME Group from $140.00 to $130.00 and set a “sell” rating on the stock in a research note on Thursday, July 30th. BidaskClub lowered shares of CME Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Deutsche Bank dropped their price target on shares of CME Group from $196.00 to $178.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Bank of America dropped their price target on shares of CME Group from $194.00 to $180.00 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, UBS Group boosted their price target on shares of CME Group from $222.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $187.88.

CME Group Profile

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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