Bleakley Financial Group LLC Trims Position in CME Group Inc. (NASDAQ:CME)

Bleakley Financial Group LLC lessened its stake in shares of CME Group Inc. (NASDAQ:CME) by 6.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,558 shares of the financial services provider’s stock after selling 882 shares during the quarter. Bleakley Financial Group LLC’s holdings in CME Group were worth $2,916,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CME. Truvestments Capital LLC purchased a new position in CME Group during the 3rd quarter valued at about $26,000. SJS Investment Consulting Inc. grew its holdings in CME Group by 570.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after buying an additional 97 shares in the last quarter. Dunhill Financial LLC boosted its position in shares of CME Group by 188.4% during the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Financial Life Planners bought a new stake in shares of CME Group during the 4th quarter valued at about $32,000. Finally, Fortitude Family Office LLC boosted its position in shares of CME Group by 120.3% during the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Price Performance

Shares of CME stock opened at $244.41 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The business’s fifty day moving average is $235.20 and its 200 day moving average is $223.49. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $249.02. The stock has a market cap of $88.08 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 5.37 and a beta of 0.57.

CME Group announced that its board has approved a stock buyback program on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

CME Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.05%. This is an increase from CME Group’s previous quarterly dividend of $1.15. CME Group’s payout ratio is 48.37%.

Wall Street Analysts Forecast Growth

CME has been the subject of a number of research analyst reports. Piper Sandler lifted their price target on CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Morgan Stanley lifted their price target on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods decreased their price target on CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Oppenheimer lifted their price target on CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup cut CME Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $255.00 to $250.00 in a research note on Monday, January 6th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, CME Group currently has a consensus 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.