Kornitzer Capital Management Inc. KS Sells 4,651 Shares of CME Group Inc. (NASDAQ:CME)

Kornitzer Capital Management Inc. KS lessened its position in shares of CME Group Inc. (NASDAQ:CME) by 6.9% in the third quarter, Holdings Channel.com reports. The firm owned 62,690 shares of the financial services provider’s stock after selling 4,651 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in CME Group were worth $13,833,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ascent Wealth Partners LLC acquired a new position in CME Group during the third quarter worth $819,000. Principal Financial Group Inc. increased its stake in CME Group by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 419,532 shares of the financial services provider’s stock valued at $92,570,000 after buying an additional 17,508 shares during the last quarter. Radnor Capital Management LLC bought a new stake in CME Group during the 3rd quarter worth about $209,000. Catalina Capital Group LLC acquired a new position in shares of CME Group during the 3rd quarter worth about $207,000. Finally, Capital Management Corp VA boosted its stake in shares of CME Group by 4.5% during the 3rd quarter. Capital Management Corp VA now owns 34,568 shares of the financial services provider’s stock worth $7,627,000 after buying an additional 1,496 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

CME has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on CME Group from $187.00 to $191.00 and gave the company an “underweight” rating in a research report on Thursday, July 25th. The Goldman Sachs Group boosted their price target on CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research report on Thursday, October 3rd. Redburn Atlantic downgraded CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price objective for the company. in a report on Tuesday, October 8th. Keefe, Bruyette & Woods boosted their target price on shares of CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of CME Group from $193.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $222.73.

Insider Transactions at CME Group

In other CME Group news, insider Timothy Francis Mccourt sold 1,374 shares of the 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 transaction, the insider now directly owns 7,275 shares in the company, valued at approximately $1,652,298. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Timothy Francis Mccourt sold 1,374 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $227.12, for a total transaction of $312,062.88. Following the transaction, the insider now owns 7,275 shares in the company, valued at approximately $1,652,298. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin J. Gepsman sold 400 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 25,067 shares of the company’s stock, valued at $5,587,935.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,621 shares of company stock valued at $3,441,063. Corporate insiders own 0.30% of the company’s stock.

CME Group Trading Down 0.2 %

CME traded down $0.47 during trading on Thursday, reaching $220.70. 73,089 shares of the company’s stock were exchanged, compared to its average volume of 1,910,308. 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 one year low of $190.70 and a one year high of $230.36. The firm has a fifty day moving average price of $221.36 and a two-hundred day moving average price of $209.75. The stock has a market capitalization of $79.47 billion, a PE ratio of 23.26, a price-to-earnings-growth ratio of 5.62 and a beta of 0.55.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $2.25 EPS. CME Group’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, equities research analysts forecast that CME Group Inc. will post 10.23 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Monday, December 9th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 2.08%. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

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.