CME Group Inc. $CME Stock Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its position in CME Group Inc. (NASDAQ:CME) by 9.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 64,720 shares of the financial services provider’s stock after purchasing an additional 5,427 shares during the period. Rakuten Investment Management Inc.’s holdings in CME Group were worth $17,036,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd bought a new stake in CME Group during the third quarter valued at $4,404,000. Third View Private Wealth LLC increased its stake in CME Group by 43.8% in the 3rd quarter. Third View Private Wealth LLC now owns 1,432 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 436 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in CME Group in the 3rd quarter worth about $450,000. First Nebraska Trust Co purchased a new stake in shares of CME Group in the 3rd quarter valued at about $517,000. Finally, Stiles Financial Services Inc raised its holdings in shares of CME Group by 6.1% in the 3rd quarter. Stiles Financial Services Inc now owns 15,237 shares of the financial services provider’s stock valued at $3,992,000 after acquiring an additional 870 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CME. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price (up from $295.00) on shares of CME Group in a research note on Thursday, October 22nd. Bank of America raised their price objective on CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a report on Thursday, July 23rd. Wells Fargo & Company boosted their target price on CME Group from $315.00 to $333.00 and gave the stock an “overweight” rating in a research report on Thursday, October 22nd. Morgan Stanley upped their target price on CME Group from $337.00 to $359.00 and gave the stock an “overweight” rating in a research note on Thursday, October 22nd. Finally, UBS Group increased their price target on shares of CME Group from $270.00 to $310.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $314.44.

Insider Buying and Selling

In other news, Director Howard J. Siegel sold 2,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $303.00, for a total value of $606,000.00. Following the completion of the sale, the director directly owned 19,873 shares of the company’s stock, valued at approximately $6,021,519. This represents a 9.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Terrence A. Duffy sold 15,000 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $274.44, for a total transaction of $4,116,600.00. Following the completion of the sale, the chief executive officer directly owned 40,630 shares in the company, valued at $11,150,497.20. This trade represents a 26.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 32,979 shares of company stock worth $9,552,762 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

CME Group News Summary

Here are the key news stories impacting CME Group this week:

• Positive Sentiment: October weekend trading in crypto reportedly reached a record $1.3 billion on CME, while coverage also highlights record trading volumes. Sustained activity could lift transaction-related revenue. Weekend crypto trading article Record trading volumes article
• Positive Sentiment: CME Group’s market-data revenue reached a record $243 million last quarter, adding a recurring revenue source alongside trading fees. Market-data revenue article
• Neutral Sentiment: The CFTC’s approval of stock perpetual futures for U.S. registered exchanges could expand the futures market, but the report does not establish how much CME Group may benefit. CFTC stock perpetual futures article
• Negative Sentiment: Two insiders sold shares on Nov. 2: Julie Winkler sold 10,079 shares, reducing her position by about 32%, and director Howard Siegel sold 2,000 shares, cutting his holdings by about 9%. Such sales may weigh on sentiment, although both retained shares. Insider sales report

CME Group Trading Up 1.4%

NASDAQ:CME opened at $308.27 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. CME Group Inc. has a 52 week low of $218.31 and a 52 week high of $329.16. The stock has a market cap of $110.34 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 3.71 and a beta of 0.15. The company’s 50 day moving average price is $282.08 and its 200-day moving average price is $280.52.

CME Group (NASDAQ:CME) last posted its earnings results on Wednesday, October 21st. The financial services provider reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.03. CME Group had a return on equity of 16.23% and a net margin of 63.33%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $2.68 earnings per share. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts forecast that CME Group Inc. will post 12.34 earnings per share for the current fiscal year.

CME Group Profile

CME Group Inc operates global derivatives marketplaces that provide trading, clearing and settlement services for futures and options contracts. Its products cover major asset classes, including interest rates, equity indexes, foreign currencies, agricultural commodities, energy and metals. The company also provides market data, benchmark information and related services used by financial institutions, corporations, producers, investors and other market participants.

CME Group’s exchange portfolio includes CME, the Chicago Board of Trade, the New York Mercantile Exchange and COMEX.