International Assets Investment Management LLC Cuts Stake in CME Group Inc. (NASDAQ:CME)

International Assets Investment Management LLC lessened its stake in shares of CME Group Inc. (NASDAQ:CME) by 99.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,706 shares of the financial services provider’s stock after selling 483,165 shares during the period. International Assets Investment Management LLC’s holdings in CME Group were worth $630,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CME. Truvestments Capital LLC purchased a new stake in CME Group in the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its stake in shares of CME Group by 188.4% in the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares in the last quarter. Y.D. More Investments Ltd bought a new stake in shares of CME Group in the second quarter valued at approximately $36,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of CME Group by 62.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after buying an additional 74 shares in the last quarter. Finally, Anchor Investment Management LLC boosted its holdings in CME Group by 52.4% in the 3rd quarter. Anchor Investment Management LLC now owns 378 shares of the financial services provider’s stock worth $83,000 after buying an additional 130 shares during the period. Institutional investors own 87.75% of the company’s stock.

CME Group Trading Down 0.0 %

Shares of CME stock opened at $229.20 on Friday. The firm has a market cap of $82.59 billion, a P/E ratio of 24.10, a price-to-earnings-growth ratio of 5.41 and a beta of 0.56. The company has a quick ratio of 1.02, a current 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. The business has a 50-day moving average price of $232.56 and a two-hundred day moving average price of $218.54.

CME Group (NASDAQ:CME) last issued its earnings results on Wednesday, October 23rd. The financial services provider reported $2.68 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.03. CME Group had a net margin of 57.34% and a return on equity of 13.39%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $2.25 EPS. The firm’s revenue was up 18.4% compared to the same quarter last year. Equities analysts anticipate that CME Group Inc. will post 10.22 EPS for the current fiscal year.

CME Group Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, December 27th will be issued a dividend of $5.80 per share. The ex-dividend date is Friday, December 27th. This is a boost from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio is currently 48.37%.

CME Group announced that its board has authorized a stock repurchase plan on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CME has been the topic of a number of analyst reports. TD Cowen assumed coverage on shares of CME Group in a report on Thursday, September 26th. They set a “hold” rating and a $221.00 target price on the stock. Citigroup lowered CME Group from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $255.00 to $250.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft reduced their target price on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a report on Monday, November 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a report on Monday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of CME Group from $237.00 to $260.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CME Group currently has a consensus rating of “Hold” and an average price target of $229.53.

Insiders Place Their Bets

In related news, insider Timothy Francis Mccourt sold 1,374 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $227.12, for a total value of $312,062.88. Following the sale, the insider now directly owns 7,275 shares of the company’s stock, valued at $1,652,298. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy S. Bitsberger sold 1,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total value of $226,960.00. Following the transaction, the director now owns 10,589 shares in the company, valued at approximately $2,403,279.44. This represents a 8.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,274 shares of company stock valued at $1,648,071 in the last ninety days. Company insiders own 0.30% of the company’s stock.

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.