Sage Private Wealth Group LLC Decreases Stock Holdings in CME Group Inc. (NASDAQ:CME)

Sage Private Wealth Group LLC cut its stake in CME Group Inc. (NASDAQ:CME) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,507 shares of the financial services provider’s stock after selling 232 shares during the period. CME Group makes up about 0.6% of Sage Private Wealth Group LLC’s holdings, making the stock its 17th largest holding. Sage Private Wealth Group LLC’s holdings in CME Group were worth $814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Truvestments Capital LLC purchased a new position in CME Group during the third quarter worth about $26,000. SJS Investment Consulting Inc. raised its position in shares of CME Group by 570.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after buying an additional 97 shares during the period. Dunhill Financial LLC lifted its holdings in CME Group by 188.4% in the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 81 shares during the last quarter. Financial Life Planners acquired a new position in CME Group in the fourth quarter valued at approximately $32,000. Finally, Fortitude Family Office LLC grew its position in CME Group by 120.3% in the fourth quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analyst Weigh In

CME has been the topic of several recent analyst reports. Barclays upped their price target on CME Group from $231.00 to $257.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Citigroup cut shares of CME Group from a “buy” rating to a “neutral” rating and decreased their target price for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a research note on Monday, January 6th. Finally, Piper Sandler increased their price objective on shares of CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. 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.com, the company currently has an average rating of “Hold” and an average price target of $229.27.

CME Group Trading Down 0.0 %

NASDAQ:CME opened at $241.74 on Wednesday. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $249.02. The firm has a market cap of $87.11 billion, a PE ratio of 25.42, a price-to-earnings-growth ratio of 5.54 and a beta of 0.57. 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 fifty day moving average price of $235.60 and a 200 day moving average price of $224.62.

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

CME Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 7th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from CME Group’s previous quarterly dividend of $1.15. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

CME Group 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.