CIBC Asset Management Inc Boosts Stock Position in CME Group Inc. (NASDAQ:CME)

CIBC Asset Management Inc increased its stake in shares of CME Group Inc. (NASDAQ:CME) by 3.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 113,005 shares of the financial services provider’s stock after acquiring an additional 3,421 shares during the quarter. CIBC Asset Management Inc’s holdings in CME Group were worth $24,935,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co raised its holdings in CME Group by 30.8% in the 3rd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 4,242 shares of the financial services provider’s stock valued at $936,000 after buying an additional 1,000 shares during the period. Intellectus Partners LLC purchased a new stake in shares of CME Group in the 3rd quarter valued at approximately $396,000. Oak Harbor Wealth Partners LLC raised its stake in shares of CME Group by 7.4% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 9,156 shares of the financial services provider’s stock valued at $2,020,000 after acquiring an additional 629 shares during the period. Lifeworks Advisors LLC lifted its holdings in shares of CME Group by 5.8% in the 3rd quarter. Lifeworks Advisors LLC now owns 2,407 shares of the financial services provider’s stock worth $531,000 after acquiring an additional 133 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in CME Group by 5.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,684 shares of the financial services provider’s stock valued at $2,137,000 after purchasing an additional 492 shares during the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on CME. TD Cowen started coverage on CME Group in a research report on Thursday, September 26th. They issued a “hold” rating and a $221.00 target price for the company. Piper Sandler boosted their price target on shares of CME Group from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Oppenheimer raised their price objective 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. Morgan Stanley boosted their target price on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their price target on CME Group from $212.00 to $213.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus price target of $224.47.

CME Group Stock Performance

Shares of CME Group stock opened at $225.28 on Friday. The stock has a market capitalization of $81.12 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 5.26 and a beta of 0.55. The firm’s fifty day simple moving average is $222.52 and its 200-day simple moving average is $210.26. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 12 month low of $190.70 and a 12 month high of $230.36.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.03. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period in the prior year, the company earned $2.25 earnings per share. The business’s revenue was up 18.4% compared to the same quarter last year. As a group, equities analysts forecast that CME Group Inc. will post 10.23 earnings per share for the current year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 9th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, December 9th. This represents a $4.60 annualized dividend and a dividend yield of 2.04%. CME Group’s dividend payout ratio (DPR) is currently 48.37%.

Insider Activity

In other CME Group news, Director Timothy S. Bitsberger sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $226.96, for a total transaction of $226,960.00. Following the transaction, the director now owns 10,589 shares in the company, valued at approximately $2,403,279.44. The trade was a 8.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Timothy Francis Mccourt sold 1,374 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $227.12, for a total value of $312,062.88. Following the completion of the sale, the insider now directly owns 7,275 shares of the company’s stock, valued at $1,652,298. This represents a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,621 shares of company stock valued at $3,441,063. Company insiders own 0.30% of the company’s stock.

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.