CME Group Inc. (NASDAQ:CME) Shares Purchased by Drive Wealth Management LLC

Drive Wealth Management LLC increased its stake in shares of CME Group Inc. (NASDAQ:CME) by 4.9% in the 4th quarter, HoldingsChannel reports. The firm owned 1,426 shares of the financial services provider’s stock after purchasing an additional 66 shares during the period. Drive Wealth Management LLC’s holdings in CME Group were worth $339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CME. SJS Investment Consulting Inc. boosted its position in shares of CME Group by 570.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 97 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of CME Group in the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its holdings in shares of CME Group by 188.4% in the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of CME Group by 120.3% in the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 83 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of CME Group by 62.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 74 shares during the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on CME shares. Citigroup downgraded 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 report on Monday, January 6th. Piper Sandler boosted their target price on CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a report on Monday, January 6th. Keefe, Bruyette & Woods reduced their target price on CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group upped their price objective on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, CME Group has an average rating of “Hold” and a consensus price target of $229.27.

CME Group Stock Performance

Shares of CME stock opened at $236.95 on Tuesday. The company has a market cap of $85.39 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. The stock has a 50 day simple moving average of $234.02 and a 200-day simple moving average of $221.43. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $249.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

CME Group Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were paid a dividend of $5.80 per share. This is an increase from CME Group’s previous dividend of $2.50. The ex-dividend date of this dividend was Friday, December 27th. CME Group’s dividend payout ratio is 48.37%.

CME Group announced that its Board of Directors has approved a share repurchase plan 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 reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Transactions at CME Group

In related news, Director Martin J. Gepsman sold 400 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the sale, the director now owns 25,067 shares in the company, valued at $5,587,935.64. This represents a 1.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Timothy S. Bitsberger sold 1,000 shares of the company’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 value of $226,960.00. Following the completion of the sale, the director now owns 10,589 shares in the company, valued at approximately $2,403,279.44. This represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,900 shares of company stock valued at $1,336,008. Corporate insiders own 0.30% of the company’s stock.

CME Group 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.