Everhart Financial Group Inc. Increases Stock Position in CME Group Inc. (NASDAQ:CME)

Everhart Financial Group Inc. raised its holdings in shares of CME Group Inc. (NASDAQ:CME) by 19.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,635 shares of the financial services provider’s stock after purchasing an additional 262 shares during the period. Everhart Financial Group Inc.’s holdings in CME Group were worth $321,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of CME. Premier Path Wealth Partners LLC lifted its holdings in CME Group by 36.8% in the second quarter. Premier Path Wealth Partners LLC now owns 1,540 shares of the financial services provider’s stock valued at $303,000 after acquiring an additional 414 shares during the period. Bowman & Co S.C. boosted its holdings in shares of CME Group by 8.8% in the second quarter. Bowman & Co S.C. now owns 7,656 shares of the financial services provider’s stock worth $1,505,000 after buying an additional 621 shares during the last quarter. Eagle Ridge Investment Management grew its position in CME Group by 1.0% during the second quarter. Eagle Ridge Investment Management now owns 69,019 shares of the financial services provider’s stock valued at $13,569,000 after buying an additional 681 shares during the period. My Legacy Advisors LLC purchased a new stake in CME Group during the second quarter valued at approximately $600,000. Finally, &PARTNERS bought a new position in CME Group in the second quarter worth approximately $393,000. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of CME stock traded down $2.57 during mid-day trading on Friday, hitting $207.05. The company had a trading volume of 1,273,912 shares, compared to its average volume of 1,924,431. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.01. The stock’s 50 day moving average price is $199.69 and its 200-day moving average price is $207.14. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $223.80. The company has a market capitalization of $74.55 billion, a P/E ratio of 23.56, a P/E/G ratio of 6.27 and a beta of 0.52.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.53 by $0.03. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.53 billion. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.30 EPS. Equities research analysts forecast that CME Group Inc. will post 9.8 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Monday, September 9th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Monday, September 9th. CME Group’s payout ratio is presently 52.33%.

Insiders Place Their Bets

In other CME Group news, Director Charles P. Carey sold 3,000 shares of CME Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $195.44, for a total value of $586,320.00. Following the completion of the transaction, the director now directly owns 7,163 shares of the company’s stock, valued at approximately $1,399,936.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Daniel R. Glickman sold 650 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $201.44, for a total transaction of $130,936.00. Following the sale, the director now owns 14,008 shares in the company, valued at approximately $2,821,771.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles P. Carey sold 3,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $195.44, for a total transaction of $586,320.00. Following the completion of the sale, the director now owns 7,163 shares of the company’s stock, valued at approximately $1,399,936.72. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CME has been the subject of a number of recent research reports. Keefe, Bruyette & Woods boosted their price objective on shares of CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Barclays upped their price target on CME Group from $208.00 to $209.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted 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 increased 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, Piper Sandler reaffirmed an “overweight” rating and set a $225.00 price target on shares of CME Group in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $213.27.

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.