Brentview Investment Management LLC Purchases Shares of 40,843 CME Group Inc. (NASDAQ:CME)

Brentview Investment Management LLC acquired a new position in shares of CME Group Inc. (NASDAQ:CME) during the fourth quarter, HoldingsChannel reports. The firm acquired 40,843 shares of the financial services provider’s stock, valued at approximately $9,485,000. CME Group comprises 5.4% of Brentview Investment Management LLC’s holdings, making the stock its 3rd largest holding.

Several other institutional investors have also added to or reduced their stakes in CME. Meyer Handelman Co. acquired a new position in CME Group during the fourth quarter worth $6,144,000. Worldquant Millennium Advisors LLC boosted its stake in shares of CME Group by 58.4% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 613,828 shares of the financial services provider’s stock worth $135,441,000 after buying an additional 226,306 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of CME Group by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 8,284,745 shares of the financial services provider’s stock valued at $1,823,964,000 after acquiring an additional 142,692 shares in the last quarter. Bank of Montreal Can increased its position in shares of CME Group by 41.8% in the third quarter. Bank of Montreal Can now owns 1,028,090 shares of the financial services provider’s stock valued at $224,432,000 after acquiring an additional 303,169 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in CME Group by 18.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,826,501 shares of the financial services provider’s stock worth $403,017,000 after acquiring an additional 283,171 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

CME Group Trading Up 0.3 %

Shares of CME stock opened at $236.52 on Monday. The stock has a 50 day simple moving average of $234.73 and a 200 day simple moving average of $222.63. 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 stock has a market cap of $85.23 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 5.37 and a beta of 0.57.

CME Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, December 5th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

CME Group Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were issued 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 of this dividend was Friday, December 27th. CME Group’s dividend payout ratio is 48.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CME. Oppenheimer boosted their price target on CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Piper Sandler boosted their price objective on shares of CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reduced their price target 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $235.00 price objective on shares of CME Group in a research report on Monday, January 6th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.