Tributary Capital Management LLC Cuts Stock Position in CME Group Inc. (NASDAQ:CME)

Tributary Capital Management LLC cut its holdings in CME Group Inc. (NASDAQ:CME) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,760 shares of the financial services provider’s stock after selling 80 shares during the quarter. Tributary Capital Management LLC’s holdings in CME Group were worth $594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gold Investment Management Ltd. bought a new stake in shares of CME Group during the fourth quarter worth $26,000. Northwest Financial Advisors bought a new stake in shares of CME Group during the fourth quarter worth $28,000. Harbor Investment Advisory LLC lifted its position in shares of CME Group by 966.7% during the fourth quarter. Harbor Investment Advisory LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 145 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of CME Group during the fourth quarter worth $38,000. Finally, Rise Advisors LLC bought a new stake in shares of CME Group during the first quarter worth $41,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Up 0.9 %

Shares of CME stock traded up $1.74 during trading hours on Tuesday, reaching $197.24. 260,778 shares of the company’s stock were exchanged, compared to its average volume of 1,889,618. CME Group Inc. has a 1 year low of $180.11 and a 1 year high of $223.80. The stock has a market cap of $71.02 billion, a PE ratio of 22.24, a PEG ratio of 5.18 and a beta of 0.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $205.30 and its two-hundred day moving average price is $208.58.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.06. CME Group had a return on equity of 12.45% and a net margin of 56.84%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $2.42 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Research analysts predict that CME Group Inc. will post 9.75 EPS for the current year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 25th. Shareholders of record on Friday, June 7th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Friday, June 7th. CME Group’s payout ratio is presently 52.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on CME. JPMorgan Chase & Co. downgraded CME Group from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $206.00 to $187.00 in a research report on Friday, June 21st. Keefe, Bruyette & Woods raised their price target on CME Group from $222.00 to $226.00 and gave the company a “market perform” rating in a research note on Thursday, April 25th. Bank of America raised their price target on CME Group from $209.00 to $216.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Rosenblatt Securities restated a “sell” rating and set a $187.00 price target (up previously from $185.00) on shares of CME Group in a research note on Thursday, April 25th. Finally, Argus raised their price target on CME Group from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $215.90.

Insider Buying and Selling at CME Group

In other news, CEO Terrence A. Duffy sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $210.91, for a total transaction of $8,436,400.00. Following the completion of the transaction, the chief executive officer now directly owns 67,455 shares of the company’s stock, valued at approximately $14,226,934.05. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Charles P. Carey sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $195.44, for a total transaction of $586,320.00. Following the completion of the sale, the director now directly owns 7,163 shares in the company, valued at $1,399,936.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terrence A. Duffy sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $210.91, for a total value of $8,436,400.00. Following the sale, the chief executive officer now owns 67,455 shares of the company’s stock, valued at $14,226,934.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,290 shares of company stock valued at $11,393,700. 0.30% of the stock is owned by company insiders.

CME Group 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.