Cibc World Market Inc. Has $14.72 Million Stake in CME Group Inc. (NASDAQ:CME)

Cibc World Market Inc. cut its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,383 shares of the financial services provider's stock after selling 19,213 shares during the period. Cibc World Market Inc.'s holdings in CME Group were worth $14,719,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CME. SJS Investment Consulting Inc. grew its stake in CME Group by 570.6% in the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider's stock valued at $26,000 after buying an additional 97 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of CME Group in the third quarter valued at approximately $26,000. Dunhill Financial LLC increased its stake in shares of CME Group by 188.4% during the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider's stock worth $27,000 after purchasing an additional 81 shares during the period. Fortitude Family Office LLC grew its stake in shares of CME Group by 120.3% in the fourth 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 in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 valued at $43,000 after buying an additional 74 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CME shares. Deutsche Bank Aktiengesellschaft dropped their price objective 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 reduced their price objective on shares of CME Group from $260.00 to $256.00 and set a "market perform" rating on the stock in a research note on Monday, January 13th. Citigroup cut shares of CME Group from a "buy" rating to a "neutral" rating and dropped their target price for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Barclays upped their price target on shares of CME Group from $231.00 to $257.00 and gave the stock an "equal weight" rating in a report on Monday, December 9th. Finally, Morgan Stanley raised their target price on CME Group from $210.00 to $233.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $229.27.

Insider Buying and Selling at CME Group

In other news, Director Martin J. Gepsman sold 400 shares of the firm's 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 completion of the transaction, the director now directly owns 25,067 shares in the company, valued at $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company's stock.

CME Group Trading Up 0.3 %

Shares of CME stock traded up $0.60 during mid-day trading on Friday, reaching $236.52. 1,981,697 shares of the stock traded hands, compared to its average volume of 1,754,316. The company has a market cap of $85.23 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 5.28 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 stock's fifty day simple moving average is $234.73 and its two-hundred day simple moving average is $222.63. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $249.02.

CME Group Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, December 27th were issued a dividend of $5.80 per share. This is a positive change from CME Group's previous dividend of $2.50. The ex-dividend date of this dividend was Friday, December 27th. CME Group's payout ratio is presently 48.37%.

CME Group declared that its board has initiated a stock repurchase program on Thursday, December 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

About CME Group

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.