MML Investors Services LLC Sells 1,462 Shares of CME Group Inc. (NASDAQ:CME)

MML Investors Services LLC lessened its position in CME Group Inc. (NASDAQ:CME) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,708 shares of the financial services provider’s stock after selling 1,462 shares during the quarter. MML Investors Services LLC’s holdings in CME Group were worth $3,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of CME Group during the third quarter valued at approximately $26,000. Dunhill Financial LLC lifted its stake in CME Group by 188.4% during the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 81 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of CME Group during the 2nd quarter valued at about $36,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of CME Group by 62.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 74 shares during the last quarter. Finally, McClarren Financial Advisors Inc. lifted its position in CME Group by 66.1% during the second quarter. McClarren Financial Advisors Inc. now owns 196 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Analyst Upgrades and Downgrades

CME has been the subject of a number of research analyst reports. Citigroup lifted 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their target price on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Piper Sandler boosted their price target on CME Group from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Finally, Bank of America increased their price objective 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. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $226.20.

Insider Transactions at CME Group

In other news, insider Timothy Francis Mccourt sold 1,374 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $227.12, for a total value of $312,062.88. Following the transaction, the insider now owns 7,275 shares of the company’s stock, valued at approximately $1,652,298. The trade was a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sunil Cutinho sold 4,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total transaction of $1,019,880.00. Following the transaction, the insider now directly owns 27,053 shares of the company’s stock, valued at $6,131,291.92. The trade was a 14.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,028 shares of company stock valued at $1,811,681 over the last 90 days. Company insiders own 0.30% of the company’s stock.

CME Group Price Performance

NASDAQ CME opened at $237.19 on Friday. 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 Inc. has a 12 month low of $190.70 and a 12 month high of $249.02. The stock has a market cap of $85.47 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 5.41 and a beta of 0.56. The company’s 50 day moving average is $229.18 and its two-hundred day moving average is $213.79.

CME Group (NASDAQ:CME) last announced its quarterly earnings data 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. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The firm had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company posted $2.25 earnings per share. The company’s revenue for the quarter was up 18.4% compared to the same quarter last year. As a group, research analysts anticipate that CME Group Inc. will post 10.22 earnings per share for the current year.

CME Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, December 27th will be given a $5.80 dividend. This is an increase from CME Group’s previous dividend of $2.50. The ex-dividend date of this dividend is Friday, December 27th. CME Group’s payout ratio is presently 48.37%.

CME Group announced that its board has initiated a share buyback program on Thursday, December 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

About CME Group

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.