Cibc World Market Inc. Has $22.61 Million Stock Position in CME Group Inc. $CME

Cibc World Market Inc. raised its position in CME Group Inc. (NASDAQ:CME) by 144.3% in the 4th quarter, HoldingsChannel reports. The fund owned 82,812 shares of the financial services provider’s stock after purchasing an additional 48,920 shares during the period. Cibc World Market Inc.’s holdings in CME Group were worth $22,614,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CME. Norges Bank acquired a new position in CME Group in the 4th quarter valued at approximately $1,523,241,000. Sanders Capital LLC acquired a new position in CME Group in the 3rd quarter valued at approximately $1,006,932,000. Strive Asset Management LLC acquired a new position in CME Group in the 3rd quarter valued at approximately $636,487,000. Life Cycle Investment Partners Ltd acquired a new position in CME Group in the 4th quarter valued at approximately $217,656,000. Finally, Viking Global Investors LP acquired a new position in CME Group in the 2nd quarter valued at approximately $164,648,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analysts Set New Price Targets

CME has been the subject of several recent research reports. UBS Group reaffirmed a “neutral” rating and issued a $310.00 price target on shares of CME Group in a report on Friday, February 6th. Wall Street Zen cut CME Group from a “hold” rating to a “sell” rating in a report on Sunday, April 26th. Piper Sandler increased their target price on CME Group from $313.00 to $329.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Raymond James Financial increased their target price on CME Group from $310.00 to $320.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Finally, Barclays dropped their target price on CME Group from $343.00 to $316.00 and set an “equal weight” rating for the company in a report on Thursday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $305.29.

Insider Transactions at CME Group

In other news, CEO Terrence A. Duffy sold 35,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $298.51, for a total value of $10,447,850.00. Following the transaction, the chief executive officer directly owned 55,630 shares in the company, valued at $16,606,111.30. This trade represents a 38.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Hilda Harris Piell sold 5,753 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $304.63, for a total value of $1,752,536.39. Following the completion of the transaction, the insider owned 27,702 shares in the company, valued at $8,438,860.26. This represents a 17.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,044 shares of company stock worth $13,297,507 in the last three months. Insiders own 0.30% of the company’s stock.

CME Group Stock Up 0.5%

Shares of CME opened at $257.40 on Friday. CME Group Inc. has a 52 week low of $244.56 and a 52 week high of $329.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $93.27 billion, a price-to-earnings ratio of 21.96, a PEG ratio of 2.86 and a beta of 0.21. The business’s fifty day moving average price is $288.35 and its two-hundred day moving average price is $288.60.

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

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Tuesday, June 9th will be given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, June 9th. CME Group’s dividend payout ratio (DPR) is currently 44.37%.

About CME Group

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.