West Michigan Advisors LLC Sells 3,077 Shares of CME Group Inc. (NASDAQ:CME)

West Michigan Advisors LLC reduced its stake in CME Group Inc. (NASDAQ:CME) by 30.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,136 shares of the financial services provider’s stock after selling 3,077 shares during the quarter. West Michigan Advisors LLC’s holdings in CME Group were worth $1,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Salomon & Ludwin LLC bought a new position in shares of CME Group during the 1st quarter valued at about $28,000. Y.D. More Investments Ltd bought a new position in CME Group during the second quarter valued at approximately $36,000. McClarren Financial Advisors Inc. raised its stake in shares of CME Group by 66.1% during the second 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. Asset Dedication LLC raised its stake in shares of CME Group by 515.2% during the second quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 170 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CME Group by 62.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 74 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CME has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a research note on Thursday. JPMorgan Chase & Co. boosted their price objective on CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price 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. Finally, Redburn Atlantic lowered shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target for the company. in a report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $222.07.

Insiders Place Their Bets

In other news, CFO Lynne Fitzpatrick sold 754 shares of the business’s stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now directly owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction dated Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the completion of the transaction, the chief financial officer now owns 13,261 shares of the company’s stock, valued at $2,877,504.39. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bryan T. Durkin sold 7,593 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 55,607 shares in the company, valued at approximately $11,932,706.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

CME Group Stock Up 1.1 %

CME stock opened at $229.69 on Friday. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $230.36. The company has a market capitalization of $82.70 billion, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 7.76 and a beta of 0.55. The business’s 50 day moving average price is $218.08 and its two-hundred day moving average price is $208.66. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

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. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. CME Group had a return on equity of 12.82% and a net margin of 56.98%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.25 earnings per share. As a group, analysts forecast that CME Group Inc. will post 10.04 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Monday, September 9th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Monday, September 9th. CME Group’s payout ratio is currently 52.33%.

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.