Wingate Wealth Advisors Inc. Makes New Investment in CME Group Inc. (NASDAQ:CME)

Wingate Wealth Advisors Inc. bought a new position in shares of CME Group Inc. (NASDAQ:CME) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 349 shares of the financial services provider’s stock, valued at approximately $81,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of CME Group during the 3rd quarter worth $26,000. SJS Investment Consulting Inc. increased its stake 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 purchasing an additional 97 shares during the period. Dunhill Financial LLC increased its stake 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 purchasing an additional 81 shares during the period. Financial Life Planners purchased a new stake in CME Group during the fourth quarter worth about $32,000. Finally, Fortitude Family Office LLC increased its stake 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 purchasing an additional 83 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Down 1.2 %

CME Group stock opened at $241.81 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $87.14 billion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 5.54 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 stock’s fifty day moving average is $235.48 and its two-hundred day moving average is $224.32.

CME Group announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

CME Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 7th will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, March 7th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from CME Group’s previous quarterly dividend of $1.15. CME Group’s dividend payout ratio (DPR) is presently 52.58%.

Analysts Set New Price Targets

CME has been the topic of a number of recent research reports. Barclays boosted their price target 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. Deutsche Bank Aktiengesellschaft lowered their price objective on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research report on Monday, November 11th. Piper Sandler boosted their price objective on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Citigroup downgraded CME Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $255.00 to $250.00 in a research report on Monday, January 6th. Four investment 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, the stock presently has an average rating of “Hold” and a consensus target price of $229.27.

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.