SteelPeak Wealth LLC Invests $216,000 in CME Group Inc. (NASDAQ:CME)

SteelPeak Wealth LLC acquired a new stake in CME Group Inc. (NASDAQ:CME) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 928 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other hedge funds also recently bought and sold shares of CME. Franklin Resources Inc. increased its position in CME Group by 70.4% during the third quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider’s stock worth $544,157,000 after purchasing an additional 1,003,119 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of CME Group by 21,465.5% during the 3rd quarter. International Assets Investment Management LLC now owns 485,871 shares of the financial services provider’s stock worth $1,072,070,000 after buying an additional 483,618 shares during the last quarter. Canoe Financial LP raised its position in shares of CME Group by 698.0% during the 4th quarter. Canoe Financial LP now owns 544,219 shares of the financial services provider’s stock valued at $126,384,000 after buying an additional 476,019 shares during the period. Janus Henderson Group PLC lifted its holdings in CME Group by 17.8% in the third quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock valued at $554,707,000 after acquiring an additional 380,071 shares during the last quarter. Finally, Baillie Gifford & Co. purchased a new position in CME Group in the third quarter worth approximately $79,692,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Performance

Shares of CME Group stock opened at $236.52 on Friday. The business has a 50-day simple moving average of $234.58 and a 200-day simple moving average of $222.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. CME Group Inc. has a one year low of $190.70 and a one year high of $249.02. The company has a market cap of $85.23 billion, a PE ratio of 24.87, a P/E/G ratio of 5.28 and a beta of 0.56.

CME Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, December 5th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

CME Group Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, December 27th were given a $5.80 dividend. The ex-dividend date was Friday, December 27th. This is an increase from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio is currently 48.37%.

Insider Activity

In other CME Group news, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the sale, the director now owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CME. Barclays lifted their target price on CME Group from $231.00 to $257.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler upped their target price on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. 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. Morgan Stanley increased their price objective on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $229.27.

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.