Longboard Asset Management LP Makes New $229,000 Investment in CME Group Inc. (NASDAQ:CME)

Longboard Asset Management LP purchased a new position in CME Group Inc. (NASDAQ:CME) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 984 shares of the financial services provider’s stock, valued at approximately $229,000.

Several other large investors also recently made changes to their positions in CME. Verity Asset Management Inc. grew its stake in CME Group by 13.9% in the 4th quarter. Verity Asset Management Inc. now owns 1,758 shares of the financial services provider’s stock valued at $408,000 after buying an additional 214 shares during the last quarter. Cullinan Associates Inc. boosted its holdings in CME Group by 614.5% during the fourth quarter. Cullinan Associates Inc. now owns 17,647 shares of the financial services provider’s stock valued at $4,098,000 after acquiring an additional 15,177 shares during the period. Calamos Wealth Management LLC acquired a new stake in shares of CME Group in the fourth quarter valued at about $207,000. Trust Point Inc. increased its stake in shares of CME Group by 7.6% in the fourth quarter. Trust Point Inc. now owns 1,021 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 72 shares during the period. Finally, Boston Trust Walden Corp lifted its position in shares of CME Group by 6.0% during the 4th quarter. Boston Trust Walden Corp now owns 16,569 shares of the financial services provider’s stock worth $3,848,000 after purchasing an additional 935 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Up 1.7 %

NASDAQ CME opened at $240.65 on Tuesday. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $249.02. The company has a market capitalization of $86.72 billion, a price-to-earnings ratio of 25.30, a PEG ratio of 5.37 and a beta of 0.57. The stock’s 50 day moving average is $234.73 and its two-hundred day moving average is $222.78. 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 declared that its Board of Directors has initiated a share buyback plan on Thursday, December 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

CME Group Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 27th were paid a $5.80 dividend. This is a positive change from CME Group’s previous dividend of $2.50. The ex-dividend date of this dividend was Friday, December 27th. CME Group’s payout ratio is currently 48.37%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their target price on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a report on Monday, November 11th. 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 report on Thursday, October 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a report on Monday, January 6th. Redburn Atlantic lowered shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus price target of $229.27.

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.