MOKAN Wealth Management Inc. Purchases New Shares in CME Group Inc. (NASDAQ:CME)

MOKAN Wealth Management Inc. bought a new position in shares of CME Group Inc. (NASDAQ:CME - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,257 shares of the financial services provider's stock, valued at approximately $1,685,000. CME Group comprises approximately 1.1% of MOKAN Wealth Management Inc.'s investment portfolio, making the stock its 26th biggest position.

Several other large investors have also added to or reduced their stakes in CME. Truvestments Capital LLC acquired a new position in CME Group during the third quarter worth $26,000. SJS Investment Consulting Inc. raised its position in CME Group by 570.6% during the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider's stock worth $26,000 after acquiring an additional 97 shares in the last quarter. Dunhill Financial LLC raised its position in 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 acquiring an additional 81 shares in the last quarter. Financial Life Planners bought a new stake in CME Group during the fourth quarter worth $32,000. Finally, Fortitude Family Office LLC raised its position in CME Group by 120.3% during the fourth quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider's stock worth $35,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company's stock.

CME Group Stock Performance

NASDAQ:CME traded down $2.43 during mid-day trading on Thursday, reaching $248.32. 1,248,663 shares of the company's stock were exchanged, compared to its average volume of 1,809,892. CME Group Inc. has a one year low of $190.70 and a one year high of $253.53. The firm has a market capitalization of $89.48 billion, a PE ratio of 25.68, a price-to-earnings-growth ratio of 6.77 and a beta of 0.57. The business's fifty day simple moving average is $236.62 and its two-hundred day simple moving average is $226.85. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.01.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.46 by $0.06. CME Group had a net margin of 57.52% and a return on equity of 13.62%. Analysts anticipate that CME Group Inc. will post 10.45 earnings per share for the current fiscal year.

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

CME Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.01%. This is an increase from CME Group's previous quarterly dividend of $1.15. The ex-dividend date is Friday, March 7th. CME Group's dividend payout ratio is presently 47.57%.

Insiders Place Their Bets

In other news, insider Julie Winkler sold 11,592 shares of the firm'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 sale, the insider now directly owns 21,885 shares in the company, valued at approximately $5,453,085.45. This trade represents a 34.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

CME has been the topic of several analyst reports. Royal Bank of Canada upped their price target on shares of CME Group from $235.00 to $269.00 and gave the stock a "sector perform" rating in a research report on Thursday, February 13th. Barclays upped their price target on shares of CME Group from $257.00 to $263.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 13th. Morgan Stanley upped their price target on shares of CME Group from $256.00 to $263.00 and gave the stock an "equal weight" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of CME Group from $209.00 to $212.00 and gave the company an "underweight" rating in a research report on Thursday, February 13th. Finally, Piper Sandler increased their price objective on shares of CME Group from $250.00 to $258.00 and gave the company an "overweight" rating in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $236.13.

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.