Carnegie Investment Counsel 13F: Cuts CME Stake by $1.8M
Key Points
- Carnegie Investment Counsel lowered its stake in CME Group Inc. by 4.6% to 152,288 shares worth $37.9 million.
- Wall Street analysts updated targets ahead of the filing, with firms like UBS and TD Cowen adjusting their views.
- CME Group operates global markets for futures and options trading across interest rates, equities, and commodities.
Since the filing, $CME is up 0.2% to date (from the $295.31 close on Oct 20, 2026).
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Carnegie Investment Counsel trimmed its stake in CME Group Inc. (CME) during the quarter, according to a Form 13F filing with the U.S. Securities and Exchange Commission on October 20, 2026. The firm sold 7,393 shares, bringing its total holding down to 152,288 shares. That reduction worked out to a 4.6% drop, leaving the investment worth about $37.9 million by the end of the period. CME Group closed at $295.31 on the day of the filing.
CME
CME Group Inc.
What Changed in Carnegie Investment Counsel's CME Position
The fund held 159,681 shares prior to the adjustment and finished the reported period with 152,288 shares. The decrease of 7,393 shares represents a 4.6% reduction in the fund's total exposure to the exchange operator.
Other Institutional Activity in CME Group
Other large investors adjusted their positions around the same time. Y-Intercept cut its holdings by 95,086 shares, ending with 53,259 shares valued at about $14.0 million. TCV Trust & Wealth Management opened a new position by adding 937 shares worth roughly $245,474. PineStone Asset Management trimmed its holdings by 109,200 shares, leaving it with 2,610,147 shares valued at $683.8 million. Montrusco Bolton Investments initiated a stake by picking up 289,492 shares worth about $75.8 million. Curated Wealth Partners slashed its stake by 657,472 shares, finishing with 1,163 shares worth roughly $304,684.
CME Group Inc. Stock Up 0.8%
Shares of CME Group recently traded around $295.79 as of October 22, 2026, putting the price nearly equal to its $295.31 close on the filing date. The stock trades above both its 50-day moving average of $274.10 and its 200-day moving average of $278.92. The company carries a market capitalization north of $106 billion.
Recent Earnings
CME Group posted trailing twelve-month revenue of $6.8 billion and earnings of $11.79 per share. The business maintained a net profit margin of 63.4% alongside a return on equity of 15.8%.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target cuts vs 0 raises.
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EPS & revenue
EPS missed estimates by 1.2%. Revenue missed estimates by 1.6%.
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Profit surprise
EBITDA missed by 6 percent. Operating income missed by 5 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 target cuts.
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Earnings quality
Gross margin up 0.7 points. Operating margin up 2.2 points. Positive free cash flow.
Earnings Call Summary
CME delivered a record first quarter with average daily volume of 36.2 million contracts, up 22 percent year-over-year, marking the highest in company history. Revenue reached $1.88 billion, up 14 percent, with record performance across all six asset classes and international markets. The company achieved record adjusted operating margins of 72.8 percent and adjusted earnings per share of $3.36, returning $3.2 billion to shareholders through dividends and buybacks.
Guidance CME reaffirmed its full-year adjusted expense guidance of about $1.695 billion. The company expects to continue investing in technology and cloud migration while maintaining capital returns through dividends and share buybacks.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Dividend
The company distributes an annual dividend rate of $5.20 per share, delivering a dividend yield of 1.8% based on a payout ratio of 95.4%.
Insider Buying and Selling at CME Group Inc.
Company insiders were active earlier in the year. On June 25, 2026, insider Timothy Bitsberger bought 645 shares at an average price of $225.00 for a total of $145,125. Daniel Kaye bought 645 shares at the same price on the same day for a total value of $145,125. Ford Harold Eugene Jr. picked up 1,067 shares at $225.00 for $240,075 on June 25, 2026. Robert Tierney Jr. also bought 645 shares at $225.00 for a total of $145,125 on that date.
Analysts Set New Price Targets
Wall Street research firms updated their views on the stock ahead of the filing. On October 5, 2026, UBS maintained a neutral rating while raising its price target from $260.00 to $270.00. TD Cowen maintained a buy rating on the same day, moving its target from $292.00 to $300.00. Barclays maintained an equal-weight rating on October 7, 2026, moving its target from $270.00 to $281.00. Morgan Stanley maintained an overweight rating on October 9, 2026, raising its target to $337.00 from $330.00. Wells Fargo also maintained an overweight rating on October 14, 2026, moving its target from $301.00 to $315.00. Across the broader analyst community, the stock holds a consensus hold rating with a mean price target of $292.94 based on 16 opinions.
About CME Group
CME Group operates key financial markets where participants trade futures and options contracts. The Chicago-based company handles products linked to interest rates, equity indexes, foreign exchange, and commodities including agriculture, energy, and metals. Institutional investors monitor its exchange volume as a barometer for financial risk management and market sentiment.
Bottom Line
Carnegie Investment Counsel's reduction sits alongside broader institutional rebalancing in CME Group. Investors will watch upcoming volume reports and earnings announcements to gauge exchange activity levels.
Related Filing Alerts
Source: Carnegie Investment Counsel's 13F filing on $CME (Oct 20, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts