CIBC Asset Management Inc Increases Stock Position in CME Group Inc. $CME

CIBC Asset Management Inc boosted its position in shares of CME Group Inc. (NASDAQ:CME) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 154,374 shares of the financial services provider’s stock after buying an additional 2,034 shares during the quarter. CIBC Asset Management Inc’s holdings in CME Group were worth $41,685,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CME. Norges Bank purchased a new stake in shares of CME Group during the 2nd quarter worth about $1,571,447,000. Viking Global Investors LP acquired a new position in CME Group in the 2nd quarter worth about $164,648,000. Vanguard Group Inc. boosted its position in CME Group by 1.5% during the second quarter. Vanguard Group Inc. now owns 35,176,376 shares of the financial services provider’s stock worth $9,695,313,000 after purchasing an additional 532,549 shares in the last quarter. Magellan Asset Management Ltd boosted its position in CME Group by 131,625.5% during the second quarter. Magellan Asset Management Ltd now owns 486,067 shares of the financial services provider’s stock worth $133,970,000 after purchasing an additional 485,698 shares in the last quarter. Finally, HRT Financial LP acquired a new stake in CME Group in the second quarter valued at approximately $127,103,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Trading Up 0.5%

Shares of CME stock opened at $282.73 on Monday. CME Group Inc. has a fifty-two week low of $232.32 and a fifty-two week high of $290.79. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s fifty day moving average is $274.17 and its two-hundred day moving average is $271.92. The firm has a market capitalization of $101.95 billion, a P/E ratio of 27.40, a PEG ratio of 3.20 and a beta of 0.27.

CME Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Friday, December 12th were given a dividend of $1.25 per share. The ex-dividend date was Friday, December 12th. This represents a $5.00 dividend on an annualized basis and a yield of 1.8%. CME Group’s payout ratio is presently 48.45%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CME. Morgan Stanley reduced their target price on CME Group from $320.00 to $319.00 and set an “overweight” rating for the company in a research note on Thursday, January 15th. Royal Bank Of Canada boosted their price target on shares of CME Group from $282.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, December 5th. Keefe, Bruyette & Woods upped their price objective on shares of CME Group from $283.00 to $287.00 and gave the stock a “market perform” rating in a research report on Monday, October 13th. Piper Sandler increased their price objective on shares of CME Group from $296.00 to $313.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of CME Group from $310.00 to $318.00 and gave the stock a “buy” rating in a research note on Wednesday, December 17th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, CME Group presently has an average rating of “Hold” and an average price target of $292.18.

Insider Activity at CME Group

In other news, CEO Terrence A. Duffy sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $269.55, for a total transaction of $6,738,750.00. Following the transaction, the chief executive officer directly owned 65,804 shares in the company, valued at $17,737,468.20. The trade was a 27.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William R. Shepard purchased 251 shares of the company’s stock in a transaction dated Tuesday, December 30th. The stock was bought at an average price of $278.37 per share, with a total value of $69,870.87. Following the completion of the transaction, the director directly owned 258,710 shares of the company’s stock, valued at approximately $72,017,102.70. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.30% of the stock is owned by corporate insiders.

About CME Group

CME Group Inc is a global markets company that operates some of the world’s largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company’s core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.