CME Group Inc (NASDAQ:CME) Position Decreased by Wealthfront Advisers LLC
Wealthfront Advisers LLC decreased its stake in CME Group Inc (NASDAQ:CME) by 22.3% in the first quarter, HoldingsChannel.com reports. The firm owned 11,322 shares of the financial services provider’s stock after selling 3,258 shares during the period. Wealthfront Advisers LLC’s holdings in CME Group were worth $1,863,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Financial Gravity Companies Inc. acquired a new position in shares of CME Group during the fourth quarter valued at $64,000. Bailard Inc. acquired a new stake in shares of CME Group during the 4th quarter valued at about $229,000. Chicago Equity Partners LLC lifted its holdings in shares of CME Group by 66.7% during the 4th quarter. Chicago Equity Partners LLC now owns 5,535 shares of the financial services provider’s stock valued at $1,041,000 after buying an additional 2,215 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of CME Group by 15.3% during the 4th quarter. Wesbanco Bank Inc. now owns 1,670 shares of the financial services provider’s stock valued at $314,000 after buying an additional 222 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of CME Group by 7.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 17,872 shares of the financial services provider’s stock valued at $3,362,000 after buying an additional 1,250 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.
NASDAQ CME traded up $0.02 during trading on Wednesday, hitting $198.77. The company’s stock had a trading volume of 41,140 shares, compared to its average volume of 1,745,442. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.16. The company has a market cap of $71.19 billion, a P/E ratio of 29.15, a P/E/G ratio of 4.65 and a beta of 0.24. CME Group Inc has a 52 week low of $158.35 and a 52 week high of $204.56.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Friday, June 7th. CME Group’s dividend payout ratio is currently 43.99%.
A number of brokerages recently weighed in on CME. BidaskClub downgraded CME Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. UBS Group raised their price objective on CME Group from $175.00 to $190.00 and gave the company a “neutral” rating in a research note on Wednesday, June 5th. Zacks Investment Research downgraded CME Group from a “hold” rating to a “sell” rating and set a $158.00 price objective on the stock. in a research note on Monday, May 27th. Barclays raised their price objective on CME Group from $191.00 to $197.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Finally, ValuEngine raised CME Group from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $188.87.
In other news, Director Martin J. Gepsman sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $167.91, for a total transaction of $503,730.00. Following the sale, the director now directly owns 39,799 shares in the company, valued at $6,682,650.09. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kathleen M. Cronin sold 8,340 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $167.54, for a total value of $1,397,283.60. Following the sale, the insider now owns 41,604 shares in the company, valued at $6,970,334.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,513 shares of company stock worth $9,952,395. Company insiders own 1.20% of the company’s stock.
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CME Group 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.
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