CME Group Inc. (NASDAQ:CME) Shares Sold by Empirical Finance LLC

Empirical Finance LLC cut its stake in shares of CME Group Inc. (NASDAQ:CME) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,248 shares of the financial services provider’s stock after selling 158 shares during the quarter. Empirical Finance LLC’s holdings in CME Group were worth $2,844,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new position in shares of CME Group during the 3rd quarter worth about $26,000. SJS Investment Consulting Inc. boosted its holdings in CME Group by 570.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 97 shares in the last quarter. Dunhill Financial LLC increased its stake 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 purchasing an additional 81 shares during the last quarter. Financial Life Planners acquired a new stake in CME Group during the fourth quarter worth approximately $32,000. Finally, Fortitude Family Office LLC lifted 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 worth $35,000 after buying an additional 83 shares during the last quarter. 87.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CME has been the topic of several research analyst reports. Citigroup lowered shares of CME Group from a “buy” rating to a “neutral” rating and cut their price target for the stock from $255.00 to $250.00 in a research note on Monday, January 6th. Oppenheimer boosted their target price on CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Morgan Stanley upped their target price on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $229.27.

CME Group Trading Up 0.2 %

Shares of CME Group stock opened at $244.83 on Friday. The company has a 50-day moving average of $235.48 and a two-hundred day moving average of $223.95. The stock has a market cap of $88.23 billion, a PE ratio of 25.74, 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. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $249.02.

CME Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.04%. This is an increase from CME Group’s previous quarterly dividend of $1.15. The ex-dividend date is Friday, March 7th. CME Group’s payout ratio is presently 48.37%.

CME Group announced that its board has approved a stock repurchase program on Thursday, December 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.