CME Group Inc. (NASDAQ:CME) Shares Bought by New York Life Investment Management LLC

New York Life Investment Management LLC raised its holdings in shares of CME Group Inc. (NASDAQ:CME) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,508 shares of the financial services provider’s stock after acquiring an additional 188 shares during the quarter. New York Life Investment Management LLC’s holdings in CME Group were worth $12,426,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Allegiance Financial Group Advisory Services LLC acquired a new stake in CME Group during the 4th quarter worth $360,000. Stegent Equity Advisors Inc. grew its holdings in shares of CME Group by 20.0% during the fourth quarter. Stegent Equity Advisors Inc. now owns 1,765 shares of the financial services provider’s stock worth $410,000 after purchasing an additional 294 shares during the last quarter. Whipplewood Advisors LLC acquired a new stake in shares of CME Group during the fourth quarter worth about $37,000. NewEdge Wealth LLC lifted its holdings in shares of CME Group by 10.1% in the 4th quarter. NewEdge Wealth LLC now owns 9,042 shares of the financial services provider’s stock valued at $2,100,000 after purchasing an additional 831 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of CME Group by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 30,891 shares of the financial services provider’s stock valued at $7,174,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of NASDAQ:CME opened at $249.85 on Friday. CME Group Inc. has a 52 week low of $190.70 and a 52 week high of $253.53. The company has a 50-day moving average price of $238.12 and a 200 day moving average price of $228.59. The company has a market cap of $90.04 billion, a P/E ratio of 25.84, a PEG ratio of 6.76 and a beta of 0.57. 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) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. CME Group had a return on equity of 13.62% and a net margin of 57.52%. Research analysts predict that CME Group Inc. will post 10.49 earnings per share for the current year.

CME Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders 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 is a boost from CME Group’s previous quarterly dividend of $1.15. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.00%. CME Group’s dividend payout ratio is 51.71%.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup lowered CME Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $255.00 to $250.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods raised their target price on shares of CME Group from $256.00 to $257.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. upped their price target 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. Piper Sandler raised their price objective on shares of CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their price objective on shares of CME Group from $235.00 to $269.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $236.13.

Insider Activity

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 stock was sold at an average price of $249.17, for a total value of $2,888,378.64. Following the sale, the insider now owns 21,885 shares in the company, valued at $5,453,085.45. This represents a 34.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

CME Group 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.