CME Group Inc. (NASDAQ:CME) Shares Sold by Flagship Harbor Advisors LLC

Posted by Defense World Staff on Jun 24th, 2023

Flagship Harbor Advisors LLC cut its stake in shares of CME Group Inc. (NASDAQ:CME – Get Rating) by 7.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,548 shares of the financial services provider’s stock after selling 211 shares during the period. Flagship Harbor Advisors LLC’s holdings in CME Group were worth $488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MayTech Global Investments LLC acquired a new stake in CME Group in the 4th quarter valued at approximately $25,000. GW&K Investment Management LLC grew its stake in shares of CME Group by 153.3% in the fourth quarter. GW&K Investment Management LLC now owns 152 shares of the financial services provider’s stock valued at $26,000 after buying an additional 92 shares in the last quarter. CoreCap Advisors LLC purchased a new stake in shares of CME Group in the 4th quarter valued at $26,000. Power Corp of Canada acquired a new position in CME Group during the 1st quarter worth about $26,000. Finally, EWG Elevate Inc. acquired a new position in CME Group during the 4th quarter worth about $27,000. 85.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CME has been the topic of a number of recent research reports. Morgan Stanley boosted their price target on shares of CME Group from $201.00 to $208.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 11th. Oppenheimer raised their price target on shares of CME Group from $213.00 to $221.00 and gave the company an “outperform” rating in a research report on Wednesday, April 12th. Rosenblatt Securities reiterated a “sell” rating and issued a $161.00 price objective on shares of CME Group in a research note on Wednesday, April 5th. Deutsche Bank Aktiengesellschaft increased their price target on CME Group from $206.00 to $208.00 in a research report on Thursday, April 27th. Finally, JPMorgan Chase & Co. lowered their price objective on CME Group from $196.00 to $194.00 and set a “neutral” rating for the company in a research report on Wednesday, April 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus price target of $210.50.

CME Group Price Performance

Shares of NASDAQ CME opened at $181.67 on Friday. The stock’s 50-day simple moving average is $183.58 and its 200-day simple moving average is $181.55. 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 firm has a market capitalization of $65.35 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 4.52 and a beta of 0.41. CME Group Inc. has a fifty-two week low of $166.54 and a fifty-two week high of $212.09.

CME Group (NASDAQ:CME – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The financial services provider reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. CME Group had a net margin of 55.99% and a return on equity of 10.88%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same quarter last year, the company earned $2.11 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, equities research analysts forecast that CME Group Inc. will post 8.73 EPS for the current fiscal year.

CME Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 27th. Investors of record on Friday, June 9th will be given a $1.10 dividend. The ex-dividend date is Thursday, June 8th. This represents a $4.40 dividend on an annualized basis and a yield of 2.42%. CME Group’s dividend payout ratio (DPR) is presently 55.91%.

CME Group Profile

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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.