Avanza Fonder AB Invests $6.16 Million in CME Group Inc. (NASDAQ:CME)

Avanza Fonder AB bought a new position in CME Group Inc. (NASDAQ:CME) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 26,518 shares of the financial services provider’s stock, valued at approximately $6,158,000.

A number of other large investors have also made changes to their positions in CME. Harbor Capital Advisors Inc. boosted its position in shares of CME Group by 0.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 7,810 shares of the financial services provider’s stock worth $1,723,000 after acquiring an additional 45 shares in the last quarter. CVA Family Office LLC raised its holdings in CME Group by 11.8% during the third quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 46 shares in the last quarter. Zions Bancorporation N.A. lifted its position in shares of CME Group by 3.7% during the 3rd quarter. Zions Bancorporation N.A. now owns 1,530 shares of the financial services provider’s stock worth $338,000 after buying an additional 54 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of CME Group by 10.2% in the 3rd quarter. Quent Capital LLC now owns 593 shares of the financial services provider’s stock valued at $131,000 after buying an additional 55 shares in the last quarter. Finally, Grove Bank & Trust grew its position in shares of CME Group by 1.3% in the 3rd quarter. Grove Bank & Trust now owns 4,276 shares of the financial services provider’s stock valued at $943,000 after buying an additional 55 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

CME Group Trading Up 0.3 %

Shares of CME Group stock opened at $233.10 on Friday. The firm has a market cap of $84.00 billion, a PE ratio of 24.49, a P/E/G ratio of 4.93 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $249.02. The business’s fifty day moving average is $232.95 and its two-hundred day moving average is $219.42.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.03. CME Group had a return on equity of 13.39% and a net margin of 57.34%. The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the company earned $2.25 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts anticipate that CME Group Inc. will post 10.2 earnings per share for the current year.

CME Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership 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 given a dividend of $5.80 per share. This is a positive change from CME Group’s previous dividend of $2.50. The ex-dividend date was Friday, December 27th. CME Group’s dividend payout ratio is 48.37%.

Insider Buying and Selling at CME Group

In other CME Group news, insider Timothy Francis Mccourt sold 1,374 shares of CME Group stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $227.12, for a total transaction of $312,062.88. Following the transaction, the insider now directly owns 7,275 shares of the company’s stock, valued at $1,652,298. The trade was a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sunil Cutinho sold 4,500 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.64, for a total transaction of $1,019,880.00. Following the completion of the sale, the insider now directly owns 27,053 shares of the company’s stock, valued at $6,131,291.92. The trade was a 14.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,274 shares of company stock worth $1,648,071 in the last quarter. 0.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. TD Cowen began coverage on shares of CME Group in a research note on Thursday, September 26th. They issued a “hold” rating and a $221.00 price objective on the stock. Oppenheimer boosted their price target on shares of CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Barclays increased their target price on CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft decreased their price target on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research note on Monday, November 11th. Finally, 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. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, CME Group presently has a consensus rating of “Hold” and an average price target of $229.27.

About CME Group

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.