Turtle Creek Wealth Advisors LLC Invests $233,000 in CME Group Inc. (NASDAQ:CME)

Turtle Creek Wealth Advisors LLC bought a new stake in shares of CME Group Inc. (NASDAQ:CME) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,058 shares of the financial services provider’s stock, valued at approximately $233,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CME. Capital International Investors increased its stake in shares of CME Group by 24.1% during the first quarter. Capital International Investors now owns 15,809,175 shares of the financial services provider’s stock valued at $3,403,557,000 after purchasing an additional 3,069,806 shares in the last quarter. Ameriprise Financial Inc. raised its stake in CME Group by 11.3% during the second quarter. Ameriprise Financial Inc. now owns 5,283,196 shares of the financial services provider’s stock valued at $1,038,676,000 after buying an additional 537,758 shares during the last quarter. GUARDCAP ASSET MANAGEMENT Ltd raised its stake in CME Group by 1.1% during the first quarter. GUARDCAP ASSET MANAGEMENT Ltd now owns 4,009,068 shares of the financial services provider’s stock valued at $863,112,000 after buying an additional 43,293 shares during the last quarter. Raymond James & Associates boosted its holdings in CME Group by 3.2% in the second quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider’s stock worth $595,530,000 after acquiring an additional 94,302 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of CME Group by 6.6% in the second quarter. Legal & General Group Plc now owns 2,835,075 shares of the financial services provider’s stock worth $557,371,000 after acquiring an additional 176,004 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CME. Bank of America upped their price target on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Piper Sandler increased their price target on shares of CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research report on Monday, November 11th. Oppenheimer increased their target price on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on CME Group from $187.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, CME Group currently has a consensus rating of “Hold” and an average target price of $224.47.

CME Group Price Performance

Shares of NASDAQ:CME opened at $225.28 on Friday. The firm’s 50 day moving average price is $222.62 and its 200-day moving average price is $210.37. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $81.12 billion, a PE ratio of 23.69, a price-to-earnings-growth ratio of 5.26 and a beta of 0.55. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $230.36.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.03. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The business had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company posted $2.25 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. Equities research analysts expect that CME Group Inc. will post 10.23 EPS for the current year.

CME Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, December 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.04%. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

Insiders Place Their Bets

In other CME Group news, insider Timothy Francis Mccourt sold 1,374 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $227.12, for a total value of $312,062.88. Following the sale, the insider now owns 7,275 shares in the company, valued at $1,652,298. The trade was a 15.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the transaction, the director now directly owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,621 shares of company stock worth $3,441,063. Company insiders own 0.30% of the company’s stock.

CME Group Company 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.