Cinctive Capital Management LP Takes Position in CME Group Inc. (NASDAQ:CME)

Cinctive Capital Management LP bought a new position in CME Group Inc. (NASDAQ:CME) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,749 shares of the financial services provider’s stock, valued at approximately $5,682,000.

Several other hedge funds have also modified their holdings of CME. Ascent Group LLC lifted its holdings in shares of CME Group by 81.4% in the 3rd quarter. Ascent Group LLC now owns 13,822 shares of the financial services provider’s stock valued at $3,050,000 after acquiring an additional 6,202 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its stake in shares of CME Group by 3.5% in the third quarter. Beacon Investment Advisory Services Inc. now owns 2,459 shares of the financial services provider’s stock valued at $543,000 after acquiring an additional 83 shares during the period. Aureus Asset Management LLC lifted its holdings in shares of CME Group by 0.8% in the 3rd quarter. Aureus Asset Management LLC now owns 25,185 shares of the financial services provider’s stock worth $5,557,000 after acquiring an additional 194 shares during the last quarter. Point72 Hong Kong Ltd boosted its stake in shares of CME Group by 5.4% during the 3rd quarter. Point72 Hong Kong Ltd now owns 76,291 shares of the financial services provider’s stock worth $16,834,000 after purchasing an additional 3,932 shares during the period. Finally, Alethea Capital Management LLC bought a new position in CME Group during the 3rd quarter valued at about $412,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen began coverage on shares of CME Group in a research note on Thursday, September 26th. They issued a “hold” rating and a $221.00 price objective for the company. Piper Sandler boosted their price target on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Citigroup raised their price objective on CME Group from $250.00 to $255.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group lifted their target price on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley increased their price target on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, CME Group presently has a consensus rating of “Hold” and a consensus target price of $224.47.

CME Group Stock Performance

Shares of CME Group stock opened at $238.00 on Monday. The company has a market capitalization of $85.77 billion, a PE ratio of 25.03, a P/E/G ratio of 5.49 and a beta of 0.55. The company has a 50-day simple moving average of $225.55 and a two-hundred day simple moving average of $211.96. CME Group Inc. has a one year low of $190.70 and a one year high of $238.97. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping the consensus estimate of $2.65 by $0.03. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. CME Group’s revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.25 EPS. Research analysts expect that CME Group Inc. will post 10.22 EPS for the current fiscal year.

CME Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 9th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $4.60 annualized dividend and a dividend yield of 1.93%. CME Group’s dividend payout ratio is presently 48.37%.

Insider Transactions at CME Group

In related news, insider Sunil Cutinho sold 4,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total value of $1,019,880.00. Following the completion of the transaction, the insider now directly owns 27,053 shares of the company’s stock, valued at $6,131,291.92. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Timothy Francis Mccourt sold 1,374 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $227.12, for a total transaction of $312,062.88. Following the sale, the insider now directly owns 7,275 shares in the company, valued at approximately $1,652,298. This represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,028 shares of company stock valued at $1,811,681 in the last quarter. 0.30% of the stock is currently owned by corporate insiders.

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.