TigerOak Management L.L.C. Sells 40 Shares of CME Group Inc. (NASDAQ:CME)

TigerOak Management L.L.C. lessened its stake in CME Group Inc. (NASDAQ:CME) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,904 shares of the financial services provider’s stock after selling 40 shares during the period. CME Group accounts for about 1.0% of TigerOak Management L.L.C.’s portfolio, making the stock its 19th largest position. TigerOak Management L.L.C.’s holdings in CME Group were worth $2,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of CME Group during the 4th quarter worth $1,107,389,000. Price T Rowe Associates Inc. MD lifted its stake in CME Group by 89.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,280,785 shares of the financial services provider’s stock worth $1,923,047,000 after acquiring an additional 3,921,278 shares during the period. Raymond James Financial Inc. bought a new position in CME Group during the 4th quarter worth about $871,063,000. GAMMA Investing LLC increased its position in CME Group by 32,941.0% during the 1st quarter. GAMMA Investing LLC now owns 1,858,887 shares of the financial services provider’s stock valued at $493,144,000 after purchasing an additional 1,853,261 shares during the period. Finally, Capital Wealth Planning LLC raised its holdings in shares of CME Group by 69.2% in the 4th quarter. Capital Wealth Planning LLC now owns 2,435,823 shares of the financial services provider’s stock valued at $565,671,000 after purchasing an additional 996,498 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In other news, Director Charles P. Carey sold 500 shares of the stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $265.35, for a total value of $132,675.00. Following the sale, the director now owns 4,900 shares in the company, valued at $1,300,215. This represents a 9.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry G. Gerdes sold 2,000 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $264.10, for a total transaction of $528,200.00. Following the transaction, the director now owns 38,651 shares of the company’s stock, valued at $10,207,729.10. This represents a 4.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,400 shares of company stock worth $3,680,610 in the last 90 days. Insiders own 0.30% of the company’s stock.

CME Group Price Performance

Shares of CME stock opened at $273.03 on Thursday. CME Group Inc. has a fifty-two week low of $192.11 and a fifty-two week high of $290.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $98.39 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 3.68 and a beta of 0.45. The stock’s 50-day simple moving average is $274.76 and its 200-day simple moving average is $256.04.

CME Group (NASDAQ:CME) last released its earnings results on Wednesday, April 23rd. The financial services provider reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.19. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.56 billion. CME Group had a net margin of 57.71% and a return on equity of 14.03%. CME Group’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, equities analysts forecast that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Monday, June 9th were given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, June 9th. CME Group’s payout ratio is 50.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CME shares. Royal Bank Of Canada reiterated a “sector perform” rating and set a $269.00 price objective on shares of CME Group in a research note on Thursday, April 3rd. Raymond James Financial upgraded CME Group from a “market perform” rating to an “outperform” rating and set a $287.00 target price for the company in a report on Monday, March 10th. JPMorgan Chase & Co. cut their price target on CME Group from $223.00 to $211.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. Bank of America upped their price objective on CME Group from $200.00 to $219.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 2nd. Finally, Piper Sandler lifted their target price on CME Group from $275.00 to $283.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $258.20.

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.