Baron Wealth Management LLC bought a new stake in CME Group Inc. (NASDAQ:CME – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 891 shares of the financial services provider’s stock, valued at approximately $207,000.
Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of CME Group by 70.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider’s stock valued at $544,157,000 after buying an additional 1,003,119 shares in the last quarter. International Assets Investment Management LLC increased its stake in CME Group by 21,465.5% in the third quarter. International Assets Investment Management LLC now owns 485,871 shares of the financial services provider’s stock valued at $1,072,070,000 after acquiring an additional 483,618 shares during the last quarter. Canoe Financial LP raised its position in CME Group by 698.0% during the fourth quarter. Canoe Financial LP now owns 544,219 shares of the financial services provider’s stock valued at $126,384,000 after purchasing an additional 476,019 shares in the last quarter. Janus Henderson Group PLC lifted its stake in CME Group by 17.8% during the third quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock worth $554,707,000 after purchasing an additional 380,071 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new position in shares of CME Group in the 3rd quarter worth about $79,692,000. 87.75% of the stock is currently owned by institutional investors.
CME Group Trading Down 0.8 %
Shares of CME opened at $232.50 on Thursday. CME Group Inc. has a 1-year low of $190.70 and a 1-year 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. The firm’s 50-day moving average price is $234.31 and its 200-day moving average price is $222.01. The firm has a market capitalization of $83.78 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 5.28 and a beta of 0.56.
CME Group Increases Dividend
CME Group announced that its Board of Directors has approved a share repurchase program on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Wall Street Analysts Forecast Growth
CME has been the topic of a number of research reports. Redburn Atlantic cut CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price objective on the stock. in a report on Tuesday, October 8th. Barclays boosted their price objective on shares of CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Bank of America boosted their price target on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research note on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $229.27.
Insider Transactions at CME Group
In related news, Director Martin J. Gepsman sold 400 shares of CME Group stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the transaction, the director now directly owns 25,067 shares of the company’s stock, valued at $5,587,935.64. This trade represents a 1.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.30% of the company’s stock.
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.
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