Taika Capital LP reduced its stake in CME Group Inc. (NASDAQ:CME - Free Report) by 63.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,595 shares of the financial services provider's stock after selling 2,725 shares during the period. Taika Capital LP's holdings in CME Group were worth $370,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in CME. Sound View Wealth Advisors Group LLC grew its stake in CME Group by 5.5% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 2,432 shares of the financial services provider's stock worth $565,000 after buying an additional 127 shares during the last quarter. Roberts Glore & Co. Inc. IL grew its position in shares of CME Group by 0.9% during the fourth quarter. Roberts Glore & Co. Inc. IL now owns 7,614 shares of the financial services provider's stock worth $1,768,000 after acquiring an additional 65 shares during the last quarter. Miramar Capital LLC increased its holdings in shares of CME Group by 0.4% in the 4th quarter. Miramar Capital LLC now owns 59,143 shares of the financial services provider's stock worth $13,735,000 after acquiring an additional 247 shares during the period. OFI Invest Asset Management acquired a new stake in shares of CME Group in the 4th quarter worth about $537,000. Finally, United Community Bank acquired a new position in CME Group during the 4th quarter valued at about $37,000. 87.75% of the stock is owned by institutional investors.
CME Group Price Performance
NASDAQ:CME traded up $7.71 during trading hours on Monday, reaching $262.28. 4,407,127 shares of the company's stock were exchanged, compared to its average volume of 1,868,540. The company has a market capitalization of $94.51 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 6.76 and a beta of 0.53. CME Group Inc. has a 12 month low of $190.70 and a 12 month high of $262.40. The business's 50-day simple moving average is $240.68 and its two-hundred day simple moving average is $231.22. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10.
CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.46 by $0.06. CME Group had a return on equity of 13.62% and a net margin of 57.52%. Sell-side analysts expect that CME Group Inc. will post 10.49 EPS for the current fiscal year.
CME Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from CME Group's previous quarterly dividend of $1.15. CME Group's payout ratio is presently 51.71%.
CME Group announced that its board has initiated a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs 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 several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of CME Group from $227.00 to $226.00 and set a "hold" rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CME Group from $209.00 to $212.00 and gave the company an "underweight" rating in a research report on Thursday, February 13th. Royal Bank of Canada lifted their target price on CME Group from $235.00 to $269.00 and gave the company a "sector perform" rating in a research note on Thursday, February 13th. Citigroup lowered CME Group from a "buy" rating to a "neutral" rating and lowered their price target for the company from $255.00 to $250.00 in a report on Monday, January 6th. Finally, Piper Sandler upped their price objective on shares of CME Group from $250.00 to $258.00 and gave the stock an "overweight" rating in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $238.93.
Read Our Latest Analysis on CME Group
Insiders Place Their Bets
In related news, insider Julie Winkler sold 11,592 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $249.17, for a total value of $2,888,378.64. Following the completion of the sale, the insider now owns 21,885 shares in the company, valued at approximately $5,453,085.45. This represents a 34.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hilda Harris Piell sold 3,984 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $250.47, for a total transaction of $997,872.48. Following the sale, the insider now directly owns 27,046 shares in the company, valued at approximately $6,774,211.62. This trade represents a 12.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,076 shares of company stock worth $4,271,496. Company insiders own 0.30% of the company's stock.
CME Group Company Profile
(
Free Report)
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.
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