Cornercap Investment Counsel Inc. Decreases Stock Holdings in CME Group Inc. (NASDAQ:CME)

Cornercap Investment Counsel Inc. trimmed its position in shares of CME Group Inc. (NASDAQ:CME) by 64.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,929 shares of the financial services provider’s stock after selling 6,982 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in CME Group were worth $827,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Power Corp of Canada acquired a new position in shares of CME Group during the first quarter valued at about $26,000. OFI Invest Asset Management acquired a new position in CME Group in the 3rd quarter worth approximately $25,000. MayTech Global Investments LLC acquired a new position in CME Group in the 4th quarter worth approximately $25,000. Harbor Investment Advisory LLC increased its holdings in CME Group by 966.7% in the 4th quarter. Harbor Investment Advisory LLC now owns 160 shares of the financial services provider’s stock worth $34,000 after buying an additional 145 shares during the period. Finally, Covestor Ltd increased its holdings in CME Group by 65.7% in the 1st quarter. Covestor Ltd now owns 169 shares of the financial services provider’s stock worth $40,000 after buying an additional 67 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Performance

Shares of CME opened at $206.23 on Tuesday. The stock has a 50-day simple moving average of $214.01 and a 200-day simple moving average of $211.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $74.24 billion, a PE ratio of 23.25, a PEG ratio of 5.95 and a beta of 0.49. CME Group Inc. has a 1 year low of $175.73 and a 1 year high of $223.80.

CME Group (NASDAQ:CME) last released its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. CME Group had a return on equity of 12.32% and a net margin of 57.83%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.43 billion. During the same quarter in the prior year, the business posted $1.92 earnings per share. CME Group’s revenue was up 19.2% compared to the same quarter last year. On average, analysts predict that CME Group Inc. will post 9.56 earnings per share for the current fiscal year.

CME Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Friday, March 8th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.23%. This is a positive change from CME Group’s previous quarterly dividend of $1.10. The ex-dividend date was Thursday, March 7th. CME Group’s dividend payout ratio (DPR) is presently 51.86%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CME shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $210.00 price target (down previously from $235.00) on shares of CME Group in a report on Friday, April 5th. Morgan Stanley raised their price objective on shares of CME Group from $222.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $229.00 price objective on shares of CME Group in a research note on Wednesday, April 3rd. The Goldman Sachs Group cut shares of CME Group from a “neutral” rating to a “sell” rating and set a $195.00 price objective on the stock. in a research note on Wednesday, January 3rd. Finally, Barclays increased their target price on CME Group from $225.00 to $226.00 and gave the company an “equal weight” rating in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, CME Group has an average rating of “Hold” and an average target price of $215.70.

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.