Apollon Wealth Management LLC Has $2.09 Million Holdings in CME Group Inc. (NASDAQ:CME)

Apollon Wealth Management LLC lowered its holdings in shares of CME Group Inc. (NASDAQ:CME) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,626 shares of the financial services provider’s stock after selling 1,390 shares during the quarter. Apollon Wealth Management LLC’s holdings in CME Group were worth $2,089,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. increased its position in shares of CME Group by 40.8% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,742 shares of the financial services provider’s stock valued at $2,112,000 after acquiring an additional 3,112 shares during the last quarter. MONECO Advisors LLC increased its position in CME Group by 22.9% during the 2nd quarter. MONECO Advisors LLC now owns 1,458 shares of the financial services provider’s stock worth $287,000 after buying an additional 272 shares during the period. Demars Financial Group LLC increased its holdings in shares of CME Group by 4.4% during the second quarter. Demars Financial Group LLC now owns 2,057 shares of the financial services provider’s stock worth $404,000 after purchasing an additional 87 shares during the period. Raymond James & Associates raised its stake in CME Group by 3.2% in the second quarter. Raymond James & Associates now owns 3,029,145 shares of the financial services provider’s stock valued at $595,530,000 after purchasing an additional 94,302 shares in the last quarter. Finally, OFI Invest Asset Management lifted its stake in CME Group by 1,690.2% during the second quarter. OFI Invest Asset Management now owns 2,560 shares of the financial services provider’s stock worth $470,000 after purchasing an additional 2,417 shares during the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CME has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of CME Group from $235.00 to $225.00 and set an “overweight” rating on the stock in a report on Thursday, July 25th. Bank of America lifted their target price on CME Group from $209.00 to $216.00 and gave the company a “neutral” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of CME Group from $193.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of CME Group from $212.00 to $213.00 and gave the stock a “market perform” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price target on shares of CME Group from $208.00 to $209.00 and gave the company an “equal weight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $213.27.

CME Group Price Performance

Shares of NASDAQ:CME traded up $0.99 during mid-day trading on Monday, reaching $208.87. The stock had a trading volume of 1,122,280 shares, compared to its average volume of 1,942,426. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $223.80. The company has a market cap of $75.21 billion, a P/E ratio of 23.74, a price-to-earnings-growth ratio of 6.27 and a beta of 0.52. The business’s 50 day moving average price is $198.53 and its 200 day moving average price is $207.06. The company has a current ratio of 1.02, a quick ratio of 1.01 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.53 by $0.03. CME Group had a net margin of 56.98% and a return on equity of 12.82%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $2.30 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Research analysts expect that CME Group Inc. will post 9.8 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Monday, September 9th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, September 9th. CME Group’s payout ratio is 52.33%.

Insider Activity at CME Group

In related news, Director Daniel R. Glickman sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $201.44, for a total transaction of $130,936.00. Following the completion of the transaction, the director now owns 14,008 shares in the company, valued at approximately $2,821,771.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Daniel R. Glickman sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $201.44, for a total value of $130,936.00. Following the transaction, the director now owns 14,008 shares of the company’s stock, valued at approximately $2,821,771.52. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles P. Carey sold 3,000 shares of CME Group stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $195.44, for a total value of $586,320.00. Following the completion of the sale, the director now directly owns 7,163 shares of the company’s stock, valued at $1,399,936.72. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

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.