Independent Advisor Alliance Purchases 175 Shares of CME Group Inc. (NASDAQ:CME)

Independent Advisor Alliance increased its position in shares of CME Group Inc. (NASDAQ:CME) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,135 shares of the financial services provider’s stock after buying an additional 175 shares during the period. Independent Advisor Alliance’s holdings in CME Group were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its holdings in shares of CME Group by 37.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 54,120 shares of the financial services provider’s stock valued at $11,942,000 after purchasing an additional 14,845 shares during the period. Summit Trail Advisors LLC increased its position in CME Group by 9.7% during the third quarter. Summit Trail Advisors LLC now owns 3,608 shares of the financial services provider’s stock worth $796,000 after buying an additional 319 shares during the last quarter. Larson Financial Group LLC raised its stake in CME Group by 752.9% in the third quarter. Larson Financial Group LLC now owns 2,320 shares of the financial services provider’s stock valued at $512,000 after buying an additional 2,048 shares during the period. Swedbank AB lifted its position in shares of CME Group by 0.8% in the third quarter. Swedbank AB now owns 71,050 shares of the financial services provider’s stock valued at $15,677,000 after buying an additional 542 shares during the last quarter. Finally, KKM Financial LLC boosted its stake in shares of CME Group by 7.0% during the 3rd quarter. KKM Financial LLC now owns 10,630 shares of the financial services provider’s stock worth $2,346,000 after acquiring an additional 695 shares during the period. 87.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on CME shares. Piper Sandler increased their price target on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Morgan Stanley raised their target price on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a report on Monday, November 11th. Bank of America increased their price target on shares of CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group boosted their price objective on CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $224.47.

Insiders Place Their Bets

In other CME Group news, Director Bryan T. Durkin sold 7,593 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $214.59, for a total transaction of $1,629,381.87. Following the sale, the director now owns 55,607 shares of the company’s stock, valued at approximately $11,932,706.13. The trade was a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Lynne Fitzpatrick sold 754 shares of the stock in a transaction on Sunday, September 15th. The shares were 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 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,621 shares of company stock valued at $3,441,063. 0.30% of the stock is currently owned by corporate insiders.

CME Group Stock Performance

NASDAQ CME opened at $234.39 on Wednesday. The firm’s 50 day simple moving average is $224.18 and its 200 day simple moving average is $211.37. The firm has a market capitalization of $84.47 billion, a price-to-earnings ratio of 24.65, a P/E/G ratio of 5.28 and a beta of 0.55. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $235.18.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The firm had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business posted $2.25 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. As a group, research analysts expect that CME Group Inc. will post 10.22 earnings per share for the current fiscal year.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Monday, December 9th. CME Group’s dividend payout ratio is presently 48.37%.

About CME Group

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.