Avion Wealth Raises Stake in CME Group Inc. (NASDAQ:CME)

Avion Wealth grew its stake in shares of CME Group Inc. (NASDAQ:CME) by 68.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 195 shares of the financial services provider’s stock after purchasing an additional 79 shares during the quarter. Avion Wealth’s holdings in CME Group were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in CME Group during the third quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its holdings 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 in the last quarter. Dunhill Financial LLC raised its holdings 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 in the last quarter. Financial Life Planners acquired a new stake in CME Group during the fourth quarter worth approximately $32,000. Finally, Fortitude Family Office LLC raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

CME has been the topic of a number of recent research reports. Oppenheimer lifted their target price on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Barclays lifted their target price on shares of CME Group from $231.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Morgan Stanley lifted their target price on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods cut their target price on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Finally, Piper Sandler lifted their target price on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, CME Group currently has a consensus rating of “Hold” and a consensus price target of $229.27.

CME Group Stock Performance

Shares of CME opened at $241.74 on Wednesday. The company has a market capitalization of $87.11 billion, a PE ratio of 25.42, a P/E/G ratio of 5.54 and a beta of 0.57. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $249.02. The company has a 50-day simple moving average of $235.60 and a 200-day simple moving average of $224.62. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

CME Group (NASDAQ:CME) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. CME Group had a net margin of 57.34% and a return on equity of 13.39%. Equities research analysts predict that CME Group Inc. will post 10.18 earnings per share for the current fiscal year.

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 paid a dividend of $1.25 per share. This is a boost from CME Group’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 7th. CME Group’s dividend payout ratio (DPR) is currently 48.37%.

CME Group declared that its Board of Directors has authorized a stock buyback program on Thursday, December 5th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication 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.