Savvy Advisors Acquires $332,000 Stake in CME Group Shares

Savvy Advisors Inc. has established a new position in CME Group Inc., acquiring 1,203 shares valued at approximately $332,000 during the second quarter. This investment highlights a growing interest from institutional investors in the financial services provider, which operates global contract markets for trading futures and options.

Several other significant investors have also adjusted their holdings in CME Group. For instance, Assetmark Inc. increased its stake by 36.1%, now holding 34,144 shares worth $9,411,000 after purchasing an additional 9,063 shares. Similarly, HBK Sorce Advisory LLC raised its position by 38.9%, acquiring 1,190 shares valued at $328,000.

Other notable changes include Premier Path Wealth Partners LLC, which increased its stake by 8.7% to own 1,616 shares worth $445,000, and Hantz Financial Services Inc., which grew its stake by an impressive 83.8%, now owning 329 shares valued at $91,000. Overall, institutional investors hold approximately 87.75% of CME Group’s stock.

Analyst Ratings and Stock Performance

Recent analyst activity has shown a mix of optimism and caution for CME Group’s stock. Oppenheimer raised its target price from $300.00 to $303.00, maintaining an “outperform” rating as of July 24, 2023. Conversely, JPMorgan Chase & Co. adjusted their target down from $252.00 to $256.00, assigning the stock an “underweight” rating.

As of October 22, 2023, CME Group shares opened at $265.49. The company has experienced fluctuations, with a 52-week low of $213.94 and a high of $290.79. With a market capitalization of $95.68 billion, the stock currently has a price-to-earnings ratio of 25.73 and a beta of 0.41.

On October 22, 2023, CME Group reported quarterly earnings of $2.68 per share, surpassing analysts’ expectations of $2.63 by $0.05. The firm generated revenue of $1.54 billion, slightly below the forecast of $1.56 billion, marking a 3.0% decline year-over-year.

Dividends and Insider Trading

In addition to its earnings report, CME Group announced a quarterly dividend of $1.25 per share, paid on September 25, 2023. This results in an annualized dividend of $5.00 and a yield of 1.9%. The company maintains a dividend payout ratio of 48.45%.

Recent insider trading activity includes the sale of shares by Jonathan L. Marcus, General Counsel, who sold 392 shares at an average price of $262.00, amounting to $102,704.00. Following this transaction, he holds 7,851 shares valued at approximately $2,056,962. Additionally, Sunil Cutinho sold 11,896 shares at an average price of $271.47, totaling over $3.2 million.

With these developments, CME Group Inc. continues to attract significant institutional interest while navigating a complex financial landscape. The company remains a key player in the trading of futures and options, providing valuable services across various sectors.