Coronation Fund Managers Ltd. Has $270,000 Holdings in CME Group Inc. (NASDAQ:CME)

Coronation Fund Managers Ltd. decreased its stake in shares of CME Group Inc. (NASDAQ:CME) by 36.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,162 shares of the financial services provider’s stock after selling 655 shares during the period. Coronation Fund Managers Ltd.’s holdings in CME Group were worth $270,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. SJS Investment Consulting Inc. raised its position in shares of CME Group by 570.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 97 shares during the period. Truvestments Capital LLC acquired a new position in CME Group in the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its holdings in CME Group by 188.4% in the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares during the period. Financial Life Planners acquired a new position in CME Group during the 4th quarter worth $32,000. Finally, Fortitude Family Office LLC grew its position in shares of 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 purchasing an additional 83 shares during the last quarter. 87.75% of the stock is owned by institutional investors.

CME Group Stock Up 0.2 %

Shares of NASDAQ:CME opened at $244.83 on Monday. The company’s fifty day moving average is $235.48 and its 200-day moving average is $224.13. 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 Inc. has a 52 week low of $190.70 and a 52 week high of $249.02. The company has a market capitalization of $88.23 billion, a PE ratio of 25.74, a P/E/G ratio of 5.54 and a beta of 0.57.

CME Group declared that its board has initiated a share repurchase plan on Thursday, December 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

CME Group Increases Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a research note on Monday, January 6th. Oppenheimer boosted their price target on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays upped their price target on CME Group from $231.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Four 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, the company has an average rating of “Hold” and a consensus price target of $229.27.

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.