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

Kirtland Hills Capital Management LLC decreased its holdings in shares of CME Group Inc. (NASDAQ:CME) by 4.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. grew its position in shares of CME Group by 416.7% during the 1st quarter. Bessemer Group Inc. now owns 21,365 shares of the financial services provider’s stock valued at $4,599,000 after purchasing an additional 17,230 shares in the last quarter. Pitcairn Co. grew its position in shares of CME Group by 11.7% during the 1st quarter. Pitcairn Co. now owns 2,684 shares of the financial services provider’s stock valued at $578,000 after purchasing an additional 282 shares in the last quarter. Crewe Advisors LLC purchased a new position in CME Group in the first quarter worth $120,000. CreativeOne Wealth LLC purchased a new position in CME Group in the first quarter worth $315,000. Finally, Sheaff Brock Investment Advisors LLC grew its position in CME Group by 1.1% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 61,467 shares of the financial services provider’s stock worth $13,233,000 after acquiring an additional 648 shares in the last quarter. Institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In other CME Group news, Director Martin J. Gepsman sold 400 shares of the company’s stock in a transaction that occurred 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 directly owns 25,067 shares in the company, valued at $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Timothy S. Bitsberger sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total value of $226,960.00. Following the sale, the director now owns 10,589 shares in the company, valued at approximately $2,403,279.44. This trade represents a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,621 shares of company stock worth $3,441,063. Corporate insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Bank of America boosted their price target on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a report on Monday, November 11th. Oppenheimer increased their price target on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen assumed coverage on shares of CME Group in a report on Thursday, September 26th. They set a “hold” rating and a $221.00 price target on the stock. Finally, Redburn Atlantic cut shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $224.47.

CME Group Price Performance

Shares of CME Group stock opened at $229.66 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $223.02 and its 200 day moving average is $210.69. The stock has a market cap of $82.76 billion, a P/E ratio of 24.15, a P/E/G ratio of 5.20 and a beta of 0.55. CME Group Inc. has a one year low of $190.70 and a one year high of $230.74.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share 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 analyst estimates of $1.59 billion. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The company’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.25 earnings per share. Sell-side analysts anticipate that CME Group Inc. will post 10.22 earnings per share for the current year.

CME Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 9th will be given a $1.15 dividend. The ex-dividend date is Monday, December 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.00%. CME Group’s dividend payout ratio is currently 48.37%.

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.