26,457 Shares in CME Group Inc. (NASDAQ:CME) Purchased by Meyer Handelman Co.

Meyer Handelman Co. bought a new position in CME Group Inc. (NASDAQ:CME - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 26,457 shares of the financial services provider's stock, valued at approximately $6,144,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CME. Truvestments Capital LLC purchased a new position in shares of CME Group during the third quarter valued at approximately $26,000. Dunhill Financial LLC lifted its stake in shares of CME Group by 188.4% during the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider's stock worth $27,000 after acquiring an additional 81 shares during the last quarter. Fortitude Family Office LLC grew its position in CME Group by 120.3% in the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 83 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in CME Group by 62.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider's stock worth $43,000 after purchasing an additional 74 shares during the period. Finally, Anchor Investment Management LLC lifted its position in shares of CME Group by 52.4% during the third quarter. Anchor Investment Management LLC now owns 378 shares of the financial services provider's stock worth $83,000 after purchasing an additional 130 shares during the last quarter. 87.75% of the stock is owned by institutional investors.

CME Group Stock Performance

Shares of CME traded down $3.68 during trading hours on Wednesday, reaching $228.05. 1,870,297 shares of the company traded hands, compared to its average volume of 1,978,729. The stock has a market capitalization of $82.18 billion, a P/E ratio of 23.98, a P/E/G ratio of 5.41 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average price of $232.81 and a 200-day moving average price of $219.36. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $249.02.

CME Group (NASDAQ:CME - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.03. The firm had revenue of $1.58 billion during the quarter, compared to analysts' expectations of $1.59 billion. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The company's revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $2.25 earnings per share. Equities analysts anticipate that CME Group Inc. will post 10.22 EPS for the current fiscal year.

CME Group Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, January 16th. Stockholders of record on Friday, December 27th will be paid a $5.80 dividend. The ex-dividend date is Friday, December 27th. This is a positive change from CME Group's previous dividend of $2.50. CME Group's dividend payout ratio is presently 48.37%.

CME Group announced that its board has approved a share buyback plan on Thursday, December 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

CME has been the topic of a number of research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Redburn Atlantic downgraded CME Group from a "buy" rating to a "neutral" rating and set a $244.00 price objective on the stock. in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their target price on CME Group from $227.00 to $226.00 and set a "hold" rating for the company in a report on Monday, November 11th. Keefe, Bruyette & Woods cut their price target on CME Group from $260.00 to $256.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, Barclays upped their price objective on shares of CME Group from $231.00 to $257.00 and gave the stock an "equal weight" rating in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, CME Group presently has an average rating of "Hold" and a consensus price target of $229.27.

Insider Buying and Selling

In related news, insider Sunil Cutinho sold 4,500 shares of the firm's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total transaction of $1,019,880.00. Following the sale, the insider now owns 27,053 shares in the company, valued at approximately $6,131,291.92. This trade represents a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martin J. Gepsman sold 400 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $222.92, for a total transaction of $89,168.00. Following the sale, the director now directly owns 25,067 shares in the company, valued at approximately $5,587,935.64. The trade was a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,274 shares of company stock valued at $1,648,071 over the last 90 days. Insiders own 0.30% of the company's stock.

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.