CME Group Inc (NASDAQ:CME) is Grisanti Capital Management LLC’s 5th Largest Position

Grisanti Capital Management LLC lifted its stake in CME Group Inc (NASDAQ:CME) by 24.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,271 shares of the financial services provider’s stock after purchasing an additional 9,092 shares during the quarter. CME Group accounts for approximately 4.9% of Grisanti Capital Management LLC’s holdings, making the stock its 5th biggest position. Grisanti Capital Management LLC’s holdings in CME Group were worth $8,982,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of CME. Close Asset Management Ltd purchased a new position in CME Group in the 1st quarter worth about $34,000. Advantage Investment Management LLC raised its position in CME Group by 119.0% in the 2nd quarter. Advantage Investment Management LLC now owns 184 shares of the financial services provider’s stock worth $36,000 after buying an additional 100 shares during the last quarter. Westside Investment Management Inc. purchased a new position in CME Group in the 2nd quarter worth about $38,000. Permanens Capital L.P. purchased a new position in CME Group in the 1st quarter worth about $41,000. Finally, Berman Capital Advisors LLC raised its position in CME Group by 23.9% in the 1st quarter. Berman Capital Advisors LLC now owns 342 shares of the financial services provider’s stock worth $56,000 after buying an additional 66 shares during the last quarter. 84.44% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on CME. Wells Fargo & Co boosted their target price on CME Group from $176.00 to $200.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 3rd. Zacks Investment Research lowered CME Group from a “hold” rating to a “sell” rating and set a $158.00 target price for the company. in a research report on Monday, May 27th. Barclays upped their price target on shares of CME Group from $191.00 to $197.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. ValuEngine raised shares of CME Group from a “hold” rating to a “buy” rating in a research report on Wednesday, May 8th. Finally, UBS Group upped their price target on shares of CME Group from $190.00 to $194.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $194.00.

Shares of NASDAQ CME traded up $0.87 during midday trading on Friday, hitting $213.58. 1,168,700 shares of the company’s stock traded hands, compared to its average volume of 1,355,837. CME Group Inc has a 1 year low of $161.05 and a 1 year high of $216.73. The stock has a market capitalization of $74.41 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 4.64 and a beta of 0.23. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day moving average of $204.44 and a 200 day moving average of $186.30.

CME Group (NASDAQ:CME) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.01. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.27 billion. CME Group had a net margin of 39.36% and a return on equity of 9.14%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, equities analysts anticipate that CME Group Inc will post 6.68 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a dividend of $0.75 per share. The ex-dividend date is Monday, September 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.40%. CME Group’s dividend payout ratio (DPR) is presently 43.99%.

In related news, CEO Terrence A. Duffy sold 35,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $200.15, for a total transaction of $7,005,250.00. Following the completion of the transaction, the chief executive officer now directly owns 79,057 shares in the company, valued at approximately $15,823,258.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Bitsberger sold 700 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $194.35, for a total value of $136,045.00. Following the transaction, the director now owns 9,421 shares of the company’s stock, valued at $1,830,971.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,363 shares of company stock valued at $16,429,225. 1.20% of the stock is currently owned by corporate insiders.

CME Group Company 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.

Further Reading: What is the Quick Ratio?

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

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