CME Group Inc. (NASDAQ:CME) Shares Sold by Conning Inc.

Conning Inc. lowered its position in shares of CME Group Inc. (NASDAQ:CME) by 11.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,566 shares of the financial services provider’s stock after selling 19,400 shares during the period. CME Group makes up approximately 1.3% of Conning Inc.’s portfolio, making the stock its 28th largest position. Conning Inc.’s holdings in CME Group were worth $35,895,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new position in CME Group in the third quarter worth approximately $26,000. SJS Investment Consulting Inc. grew its holdings in shares of CME Group by 570.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 97 shares during the period. Dunhill Financial LLC grew its holdings 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 purchasing an additional 81 shares during the period. Financial Life Planners acquired a new stake in shares of CME Group during the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC lifted its position in 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 buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the subject of a number of recent 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 for the company in a research report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Piper Sandler raised their price target on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price objective on CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a research note on Monday, January 13th. Finally, Morgan Stanley increased their target price on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, CME Group presently has a consensus rating of “Hold” and an average target price of $229.27.

CME Group Stock Up 0.2 %

CME stock opened at $244.83 on Friday. The company’s 50 day moving average price is $235.34 and its 200 day moving average price is $223.63. The firm has a market capitalization of $88.23 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 5.37 and a beta of 0.57. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $249.02. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 7th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from CME Group’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, March 7th. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

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

CME Group Company 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.