Tributary Capital Management LLC Cuts Holdings in CME Group Inc (NASDAQ:CME)

Tributary Capital Management LLC trimmed its position in shares of CME Group Inc (NASDAQ:CME) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,300 shares of the financial services provider’s stock after selling 150 shares during the period. Tributary Capital Management LLC’s holdings in CME Group were worth $543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Northpointe Capital LLC grew its stake in shares of CME Group by 184.7% in the 1st quarter. Northpointe Capital LLC now owns 30,447 shares of the financial services provider’s stock valued at $5,011,000 after purchasing an additional 19,751 shares during the period. Argus Investors Counsel Inc. bought a new stake in shares of CME Group in the 1st quarter valued at approximately $412,000. Steinberg Global Asset Management grew its stake in shares of CME Group by 13.6% in the 1st quarter. Steinberg Global Asset Management now owns 5,247 shares of the financial services provider’s stock valued at $849,000 after purchasing an additional 629 shares during the period. Flagship Harbor Advisors LLC grew its stake in shares of CME Group by 11.2% in the 1st quarter. Flagship Harbor Advisors LLC now owns 5,254 shares of the financial services provider’s stock valued at $864,000 after purchasing an additional 531 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of CME Group by 10.1% in the 1st quarter. Raymond James Trust N.A. now owns 20,935 shares of the financial services provider’s stock valued at $3,445,000 after purchasing an additional 1,920 shares during the period. Hedge funds and other institutional investors own 84.98% of the company’s stock.

Shares of CME Group stock traded up $2.93 on Friday, hitting $182.94. 1,527,737 shares of the company’s stock traded hands, compared to its average volume of 1,705,392. The stock has a market capitalization of $64.41 billion, a price-to-earnings ratio of 26.82, a PEG ratio of 4.12 and a beta of 0.32. CME Group Inc has a one year low of $157.21 and a one year high of $197.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.01 and a current ratio of 1.04.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.60 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.19 billion. CME Group had a net margin of 42.47% and a return on equity of 9.29%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, research analysts forecast that CME Group Inc will post 6.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.64%. The ex-dividend date is Friday, June 7th. CME Group’s payout ratio is 43.99%.

In related news, Director Ronald A. Pankau sold 200 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $182.90, for a total value of $36,580.00. Following the completion of the sale, the director now owns 3,600 shares in the company, valued at approximately $658,440. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jeffrey M. Bernacchi sold 10,087 shares of the company’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $177.94, for a total transaction of $1,794,880.78. Following the completion of the sale, the director now owns 42,004 shares of the company’s stock, valued at approximately $7,474,191.76. The disclosure for this sale can be found here. Insiders have sold a total of 38,489 shares of company stock valued at $6,739,196 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Several research analysts have recently commented on the company. Citigroup set a $205.00 target price on CME Group and gave the stock a “buy” rating in a report on Friday, February 15th. BidaskClub downgraded CME Group from a “buy” rating to a “hold” rating in a report on Thursday, January 31st. JPMorgan Chase & Co. began coverage on CME Group in a report on Friday, February 15th. They set an “underweight” rating and a $164.00 price objective on the stock. Zacks Investment Research raised CME Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 17th. Finally, ValuEngine downgraded CME Group from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. CME Group currently has a consensus rating of “Hold” and a consensus target price of $189.71.

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About CME Group

CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, and metals, as well as fixed income products.

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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