Maple Capital Management Inc. Has $14.94 Million Stock Position in CME Group Inc. (NASDAQ:CME)

Maple Capital Management Inc. lowered its position in CME Group Inc. (NASDAQ:CME) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,330 shares of the financial services provider’s stock after selling 828 shares during the quarter. CME Group accounts for about 1.1% of Maple Capital Management Inc.’s holdings, making the stock its 28th largest position. Maple Capital Management Inc.’s holdings in CME Group were worth $14,939,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CME. Truvestments Capital LLC bought a new position in CME Group in the third quarter worth $26,000. SJS Investment Consulting Inc. increased its holdings in CME Group by 570.6% in 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 raised its stake in shares of CME Group by 188.4% in the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after buying an additional 81 shares in the last quarter. Financial Life Planners bought a new position in shares of CME Group during the 4th quarter worth about $32,000. Finally, Fortitude Family Office LLC boosted its position in shares of CME Group by 120.3% during the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Performance

CME Group stock opened at $253.77 on Friday. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $254.40. The stock has a 50-day simple moving average of $238.42 and a 200 day simple moving average of $228.92. 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 stock has a market capitalization of $91.45 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 6.76 and a beta of 0.57.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $0.06. CME Group had a net margin of 57.52% and a return on equity of 13.62%. On average, research analysts anticipate that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group announced that its Board of Directors has approved a share repurchase program on Thursday, December 5th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

CME Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be issued a dividend of $1.25 per share. This is an increase from CME Group’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.00 annualized dividend and a yield of 1.97%. CME Group’s dividend payout ratio is currently 51.71%.

Insiders Place Their Bets

In other news, insider Hilda Harris Piell sold 3,984 shares of CME Group stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $250.47, for a total transaction of $997,872.48. Following the completion of the sale, the insider now owns 27,046 shares in the company, valued at $6,774,211.62. The trade was a 12.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Julie Winkler sold 11,592 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total transaction of $2,888,378.64. Following the sale, the insider now directly owns 21,885 shares of the company’s stock, valued at approximately $5,453,085.45. This trade represents a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CME shares. Royal Bank of Canada increased their price target on shares of CME Group from $235.00 to $269.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Barclays upped their price objective on CME Group from $257.00 to $263.00 and gave the company an “equal weight” rating in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on CME Group from $256.00 to $257.00 and gave the stock a “market perform” rating in a research report on Friday, February 14th. Oppenheimer boosted their price target on CME Group from $258.00 to $269.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler increased their price objective on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $236.13.

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.