Pekin Hardy Strauss Inc. Sells 641 Shares of CME Group Inc. (NASDAQ:CME)

Pekin Hardy Strauss Inc. lessened its stake in shares of CME Group Inc. (NASDAQ:CME) by 4.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,321 shares of the financial services provider’s stock after selling 641 shares during the period. Pekin Hardy Strauss Inc.’s holdings in CME Group were worth $2,422,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gold Investment Management Ltd. bought a new stake in CME Group in the fourth quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in shares of CME Group in the first quarter valued at about $28,000. Y.D. More Investments Ltd acquired a new position in CME Group in the second quarter valued at about $36,000. McClarren Financial Advisors Inc. raised its stake in CME Group by 66.1% in the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 78 shares in the last quarter. Finally, Asset Dedication LLC raised its stake in CME Group by 515.2% in 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 in the last quarter. Institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $225.00 target price on shares of CME Group in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft upped their target price on CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Keefe, Bruyette & Woods upped their target price on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Barclays increased their price target on CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a report on Thursday, July 25th. Finally, Bank of America cut CME Group from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $212.00 to $177.00 in a report on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $209.73.

CME Group Price Performance

Shares of CME Group stock opened at $218.53 on Tuesday. The stock has a market capitalization of $78.69 billion, a P/E ratio of 24.86, a price-to-earnings-growth ratio of 8.85 and a beta of 0.55. CME Group Inc. has a one year low of $190.70 and a one year high of $223.80. The business’s 50 day simple moving average is $206.16 and its two-hundred day simple moving average is $207.48. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.53 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 $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the company posted $2.30 earnings per share. The firm’s revenue was up 12.7% on a year-over-year basis. Analysts forecast that CME Group Inc. will post 9.94 EPS for the current year.

CME Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Monday, September 9th. CME Group’s dividend payout ratio is currently 52.33%.

Insider Transactions at CME Group

In related news, Director Bryan T. Durkin sold 7,593 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the completion of the sale, the director now owns 55,607 shares in the company, valued at $11,932,706.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

CME Group Profile

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.