Victory Capital Management Inc. Boosts Stake in CME Group Inc. (NASDAQ:CME)

Victory Capital Management Inc. lifted its stake in shares of CME Group Inc. (NASDAQ:CME) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,953 shares of the financial services provider’s stock after acquiring an additional 1,339 shares during the quarter. Victory Capital Management Inc. owned approximately 0.07% of CME Group worth $55,028,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CME. Catalina Capital Group LLC purchased a new position in shares of CME Group during the third quarter worth approximately $207,000. Radnor Capital Management LLC purchased a new position in shares of CME Group during the third quarter worth approximately $209,000. Principal Financial Group Inc. increased its position in shares of CME Group by 4.4% during the third quarter. Principal Financial Group Inc. now owns 419,532 shares of the financial services provider’s stock worth $92,570,000 after acquiring an additional 17,508 shares during the period. Western Pacific Wealth Management LP increased its position in shares of CME Group by 116.8% during the third quarter. Western Pacific Wealth Management LP now owns 464 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 250 shares during the period. Finally, Consolidated Planning Corp purchased a new position in shares of CME Group during the third quarter worth approximately $207,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Price Performance

Shares of CME opened at $254.57 on Friday. The company has a market cap of $91.74 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 6.76 and a beta of 0.57. CME Group Inc. has a twelve month low of $190.70 and a twelve month high of $258.78. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $240.07 and a two-hundred day moving average of $230.55.

CME Group (NASDAQ:CME) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.46 by $0.06. CME Group had a net margin of 57.52% and a return on equity of 13.62%. As a group, analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors 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 dividend of $1.25 per share. This is an increase from CME Group’s previous quarterly dividend of $1.15. This represents a $5.00 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, March 7th. CME Group’s payout ratio is presently 51.71%.

Insider Transactions at CME Group

In related news, insider Julie Winkler sold 11,592 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $249.17, for a total transaction of $2,888,378.64. Following the completion of the transaction, the insider now owns 21,885 shares of the company’s stock, valued at $5,453,085.45. This trade represents a 34.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hilda Harris Piell sold 3,984 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $250.47, for a total transaction of $997,872.48. Following the transaction, the insider now directly owns 27,046 shares of the company’s stock, valued at approximately $6,774,211.62. This trade represents a 12.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,076 shares of company stock worth $4,271,496. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CME shares. Keefe, Bruyette & Woods raised their target price on shares of CME Group from $256.00 to $257.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Barclays increased their price objective on shares of CME Group from $257.00 to $263.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Piper Sandler increased their price objective on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Oppenheimer increased their price objective on shares of CME Group from $258.00 to $269.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley increased their price objective on shares of CME Group from $256.00 to $263.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $235.50.

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.