Harrell Investment Partners LLC Has $4.86 Million Stake in CME Group Inc. (NASDAQ:CME)

Harrell Investment Partners LLC trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,944 shares of the financial services provider’s stock after selling 135 shares during the quarter. CME Group makes up about 1.4% of Harrell Investment Partners LLC’s investment portfolio, making the stock its 25th largest holding. Harrell Investment Partners LLC’s holdings in CME Group were worth $4,864,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CME. Harbor Capital Advisors Inc. increased its position in CME Group by 0.6% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,810 shares of the financial services provider’s stock worth $1,723,000 after buying an additional 45 shares during the period. CVA Family Office LLC increased its position in shares of CME Group by 11.8% during the third quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 46 shares during the period. Zions Bancorporation N.A. increased its position in shares of CME Group by 3.7% during the third quarter. Zions Bancorporation N.A. now owns 1,530 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 54 shares during the period. Independent Wealth Network Inc. increased its position in shares of CME Group by 2.1% during the fourth quarter. Independent Wealth Network Inc. now owns 2,683 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 54 shares during the period. Finally, Quent Capital LLC increased its position in shares of CME Group by 10.2% during the third quarter. Quent Capital LLC now owns 593 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 55 shares during the period. 87.75% of the stock is currently owned by institutional investors and hedge funds.

CME Group Trading Up 0.6 %

NASDAQ CME opened at $234.68 on Friday. The firm has a market cap of $84.57 billion, a P/E ratio of 24.68, a P/E/G ratio of 5.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $234.02 and its 200-day moving average is $221.05. CME Group Inc. has a one year low of $190.70 and a one year high of $249.02.

CME Group (NASDAQ:CME) last issued its earnings results 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 company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.59 billion. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.25 EPS. Sell-side analysts anticipate that CME Group Inc. will post 10.18 earnings per share for the current fiscal year.

CME Group declared that its board has approved a share repurchase program on Thursday, December 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 3.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

CME Group Increases Dividend

The company also recently declared a dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 27th were issued a dividend of $5.80 per share. This is a boost from CME Group’s previous dividend of $2.50. The ex-dividend date of this dividend was Friday, December 27th. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

Insider Buying and Selling

In other CME Group news, Director Timothy S. Bitsberger sold 1,000 shares of CME Group stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total value of $226,960.00. Following the completion of the transaction, the director now directly owns 10,589 shares of the company’s stock, valued at $2,403,279.44. The trade was a 8.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Martin J. Gepsman sold 400 shares of CME Group stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total value of $89,168.00. Following the completion of the transaction, the director now directly owns 25,067 shares of the company’s stock, valued at $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,274 shares of company stock valued at $1,648,071. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on CME shares. Piper Sandler boosted their price target on CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. 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 Monday, January 6th. Bank of America boosted their price target on CME Group from $177.00 to $180.00 and gave the company an “underperform” rating in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods decreased their price target on CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, Redburn Atlantic lowered CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a research note on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.27.

CME Group 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.