CIBC Asset Management Inc Boosts Stock Position in CME Group Inc. $CME

CIBC Asset Management Inc boosted its holdings in CME Group Inc. (NASDAQ:CME) by 27.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,469 shares of the financial services provider’s stock after buying an additional 43,095 shares during the quarter. CIBC Asset Management Inc’s holdings in CME Group were worth $53,900,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Asset Dedication LLC grew its holdings in shares of CME Group by 64.9% during the fourth quarter. Asset Dedication LLC now owns 94 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 37 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of CME Group during the fourth quarter worth about $27,000. Legacy Wealth Managment LLC ID grew its holdings in shares of CME Group by 191.9% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 108 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 71 shares during the last quarter. Global Wealth Strategies & Associates grew its holdings in shares of CME Group by 1,250.0% during the fourth quarter. Global Wealth Strategies & Associates now owns 108 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 100 shares during the last quarter. Finally, Anfield Capital Management LLC grew its holdings in shares of CME Group by 197.4% during the fourth quarter. Anfield Capital Management LLC now owns 113 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 75 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 opened at $252.64 on Thursday. CME Group Inc. has a fifty-two week low of $244.56 and a fifty-two week high of $329.16. The company has a market capitalization of $91.55 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.80 and a beta of 0.21. The firm has a 50-day simple moving average of $290.01 and a 200-day simple moving average of $289.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.25. CME Group had a net margin of 63.19% and a return on equity of 15.42%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that CME Group Inc. will post 12.28 earnings per share for the current year.

CME Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be paid a dividend of $1.30 per share. The ex-dividend date is Tuesday, June 9th. This represents a $5.20 annualized dividend and a dividend yield of 2.1%. CME Group’s dividend payout ratio is 44.37%.

Analyst Ratings Changes

Several equities analysts have issued reports on CME shares. Deutsche Bank Aktiengesellschaft dropped their price objective on CME Group from $342.00 to $322.00 and set a “buy” rating on the stock in a report on Thursday, April 23rd. Jefferies Financial Group dropped their price objective on CME Group from $356.00 to $349.00 and set a “buy” rating on the stock in a report on Thursday, April 9th. Raymond James Financial raised their price objective on CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Argus reaffirmed a “hold” rating on shares of CME Group in a report on Wednesday, March 4th. Finally, Piper Sandler raised their price objective on CME Group from $313.00 to $329.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Moderate Buy” and a consensus price target of $305.29.

Insider Transactions at CME Group

In other news, insider Hilda Harris Piell sold 5,753 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $304.63, for a total transaction of $1,752,536.39. Following the completion of the sale, the insider owned 27,702 shares in the company, valued at approximately $8,438,860.26. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jonathan L. Marcus sold 3,291 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $333.37, for a total transaction of $1,097,120.67. Following the sale, the general counsel owned 7,192 shares of the company’s stock, valued at $2,397,597.04. This trade represents a 31.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 44,044 shares of company stock worth $13,297,507. Company insiders own 0.30% of the company’s stock.

CME Group Company Profile

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.