Quarry LP Buys 1,848 Shares of CME Group Inc. (NASDAQ:CME)

Quarry LP raised its stake in CME Group Inc. (NASDAQ:CME) by 354.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,370 shares of the financial services provider’s stock after purchasing an additional 1,848 shares during the period. Quarry LP’s holdings in CME Group were worth $523,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new position in shares of CME Group during the 3rd quarter worth about $26,000. Y.D. More Investments Ltd bought a new position in shares of CME Group during the 2nd quarter worth about $36,000. McClarren Financial Advisors Inc. lifted its holdings in shares of CME Group by 66.1% during the 2nd quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 78 shares during the period. Asset Dedication LLC lifted its holdings in shares of CME Group by 515.2% during the 2nd quarter. Asset Dedication LLC now owns 203 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 170 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CME Group by 62.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 74 shares during the period. 87.75% of the stock is owned by institutional investors.

CME Group Stock Up 1.2 %

Shares of NASDAQ:CME opened at $246.02 on Friday. CME Group Inc. has a one year low of $190.70 and a one year high of $249.02. The company has a 50 day moving average of $227.46 and a 200-day moving average of $212.77. 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 has a market cap of $88.66 billion, a price-to-earnings ratio of 25.87, a P/E/G ratio of 5.55 and a beta of 0.56.

CME Group (NASDAQ:CME) last issued its quarterly 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. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The company had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company earned $2.25 EPS. CME Group’s revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts forecast that CME Group Inc. will post 10.22 earnings per share for the current year.

CME Group declared that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

CME Group Announces Dividend

The firm also recently declared 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 1.87%. The ex-dividend date is Monday, December 9th. CME Group’s dividend payout ratio is 48.37%.

Insider Buying and Selling

In related news, insider Timothy Francis Mccourt sold 1,374 shares of CME Group stock in a transaction that occurred on 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 of the company’s stock, valued at $1,652,298. This trade represents a 15.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Lynne Fitzpatrick sold 754 shares of CME Group stock in a transaction that occurred on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total transaction of $163,610.46. Following the transaction, the chief financial officer now directly owns 13,261 shares in the company, valued at $2,877,504.39. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,028 shares of company stock valued at $1,811,681 in the last 90 days. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CME shares. Citigroup increased their target price on shares of CME Group from $250.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Bank of America increased their target price on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. TD Cowen started coverage on shares of CME Group in a research report on Thursday, September 26th. They set a “hold” rating and a $221.00 target price for the company. Piper Sandler increased their target price on shares of CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Morgan Stanley increased their target price on shares of 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 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 company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $224.47.

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.