CIBC Asset Management Inc Has $26.50 Million Stock Position in CME Group Inc. (NASDAQ:CME)

CIBC Asset Management Inc raised its position in shares of CME Group Inc. (NASDAQ:CME) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 114,111 shares of the financial services provider’s stock after purchasing an additional 1,106 shares during the quarter. CIBC Asset Management Inc’s holdings in CME Group were worth $26,500,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CME. Meyer Handelman Co. bought a new position in CME Group during the fourth quarter worth $6,144,000. Spire Wealth Management grew its holdings in CME Group by 37.4% during the 4th quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 359 shares during the period. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of CME Group by 19.3% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 326,098 shares of the financial services provider’s stock valued at $75,730,000 after purchasing an additional 52,862 shares during the period. Geode Capital Management LLC boosted its position in shares of CME Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,284,745 shares of the financial services provider’s stock valued at $1,823,964,000 after purchasing an additional 142,692 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in CME Group by 41.8% during the third quarter. Bank of Montreal Can now owns 1,028,090 shares of the financial services provider’s stock worth $224,432,000 after purchasing an additional 303,169 shares during the period. Institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In related news, insider Julie Winkler sold 11,592 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total transaction of $2,888,378.64. Following the completion of the sale, the insider now directly owns 21,885 shares of the company’s stock, valued at approximately $5,453,085.45. This trade represents a 34.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada boosted their price target on CME Group from $235.00 to $269.00 and gave the company a “sector perform” rating in a research note on Thursday, February 13th. Oppenheimer increased their target price on shares of CME Group from $258.00 to $269.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Citigroup downgraded shares of CME Group from a “buy” rating to a “neutral” rating and decreased their price target for the company from $255.00 to $250.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their target price on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price target on CME Group from $209.00 to $212.00 and gave the stock an “underweight” 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $234.13.

CME Group Stock Down 1.9 %

CME stock opened at $245.48 on Tuesday. The firm has a market capitalization of $88.46 billion, a PE ratio of 25.81, a P/E/G ratio of 5.54 and a beta of 0.57. 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 Inc. has a twelve month low of $190.70 and a twelve month high of $253.53. The stock’s 50 day moving average is $235.95 and its 200-day moving average is $226.00.

CME Group (NASDAQ:CME) last released its quarterly earnings results 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 return on equity of 13.39% and a net margin of 57.34%. Sell-side analysts expect that CME Group Inc. will post 10.18 EPS for the current fiscal year.

CME Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors 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. Investors of record on Friday, March 7th will be given a dividend of $1.25 per share. 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 dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 7th. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

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.