Hanson & Doremus Investment Management Sells 56 Shares of CME Group Inc. (NASDAQ:CME)

Hanson & Doremus Investment Management lowered its stake in shares of CME Group Inc. (NASDAQ:CME) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,983 shares of the financial services provider’s stock after selling 56 shares during the period. Hanson & Doremus Investment Management’s holdings in CME Group were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Gold Investment Management Ltd. bought a new stake in CME Group during the fourth quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new position in shares of CME Group in the 1st quarter worth approximately $28,000. Y.D. More Investments Ltd bought a new position in shares of CME Group during the 2nd quarter worth approximately $36,000. McClarren Financial Advisors Inc. raised its stake in shares of CME Group by 66.1% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 78 shares in the last quarter. Finally, Asset Dedication LLC lifted its position in CME Group by 515.2% during the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 170 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

CME Group Stock Performance

CME opened at $216.99 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $223.80. The firm has a 50 day moving average of $205.69 and a two-hundred day moving average of $207.59. The firm has a market capitalization of $78.13 billion, a PE ratio of 24.69, a P/E/G ratio of 8.85 and a beta of 0.55.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, July 24th. The financial services provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same quarter last year, the company posted $2.30 earnings per share. The firm’s revenue was up 12.7% compared to the same quarter last year. On average, analysts anticipate that CME Group Inc. will post 9.94 EPS for the current year.

CME Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, September 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.12%. CME Group’s payout ratio is 52.33%.

Insider Buying and Selling

In other CME Group news, Director Bryan T. Durkin sold 7,593 shares of the business’s 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 transaction, the director now directly owns 55,607 shares of the company’s stock, valued at $11,932,706.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CME. Deutsche Bank Aktiengesellschaft lifted their price target on shares of CME Group from $193.00 to $200.00 and gave the stock 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 research report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and issued a $225.00 price target on shares of CME Group in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a report on Thursday, July 25th. Finally, Bank of America cut shares of CME Group from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $212.00 to $177.00 in a research note on Tuesday, September 3rd. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $209.73.

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.