Kirtland Hills Capital Management LLC Sells 219 Shares of CME Group Inc. (NASDAQ:CME)

Kirtland Hills Capital Management LLC lowered its position in CME Group Inc. (NASDAQ:CME) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,466 shares of the financial services provider’s stock after selling 219 shares during the quarter. Kirtland Hills Capital Management LLC’s holdings in CME Group were worth $985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of CME Group during the third quarter worth about $3,618,000. West Family Investments Inc. boosted its stake in shares of CME Group by 31.0% in the third quarter. West Family Investments Inc. now owns 1,970 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 466 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of CME Group by 17.3% in the third quarter. PNC Financial Services Group Inc. now owns 152,789 shares of the financial services provider’s stock worth $33,713,000 after acquiring an additional 22,570 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in CME Group during the third quarter worth $5,569,000. Finally, Caprock Group LLC boosted its stake in CME Group by 10.1% during the third quarter. Caprock Group LLC now owns 6,080 shares of the financial services provider’s stock worth $1,342,000 after buying an additional 559 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Performance

Shares of CME stock opened at $229.66 on Wednesday. The company has a market cap of $82.76 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 5.20 and a beta of 0.55. The stock has a 50 day simple moving average of $223.02 and a 200-day simple moving average of $210.69. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $230.74. 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 (NASDAQ:CME) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.03. The business 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 company’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 EPS. On average, equities analysts forecast that CME Group Inc. will post 10.22 EPS for the current year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders 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 yield of 2.00%. The ex-dividend date is Monday, December 9th. CME Group’s payout ratio is 48.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CME shares. Morgan Stanley upped their price target on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. TD Cowen assumed coverage on CME Group in a report on Thursday, September 26th. They issued a “hold” rating and a $221.00 price objective on the stock. Piper Sandler upped their price target on CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Barclays upped their price target on CME Group from $219.00 to $231.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a report on Monday, November 11th. Four investment 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 presently has a consensus rating of “Hold” and a consensus price target of $224.47.

Insiders Place Their Bets

In other news, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $222.92, for a total transaction of $89,168.00. Following the sale, the director now owns 25,067 shares in the company, valued at $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Lynne Fitzpatrick sold 754 shares of the firm’s stock in a transaction on Sunday, September 15th. The stock was sold at an average price of $216.99, for a total value of $163,610.46. Following the sale, the chief financial officer now owns 13,261 shares in the company, valued at $2,877,504.39. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 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 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.