HB Wealth Management LLC Raises Stake in CME Group Inc. (NASDAQ:CME)

Posted by on Apr 1st, 2023

HB Wealth Management LLC lifted its position in shares of CME Group Inc. (NASDAQ:CME – Get Rating) by 63.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,805 shares of the financial services provider’s stock after buying an additional 1,094 shares during the quarter. HB Wealth Management LLC’s holdings in CME Group were worth $472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Envestnet Asset Management Inc. grew its holdings in CME Group by 4.6% in the third quarter. Envestnet Asset Management Inc. now owns 360,268 shares of the financial services provider’s stock valued at $63,814,000 after purchasing an additional 15,818 shares during the period. Greenleaf Trust lifted its position in CME Group by 2.2% during the third quarter. Greenleaf Trust now owns 4,805 shares of the financial services provider’s stock valued at $851,000 after buying an additional 102 shares in the last quarter. Victory Capital Management Inc. lifted its position in CME Group by 13.4% during the third quarter. Victory Capital Management Inc. now owns 334,175 shares of the financial services provider’s stock valued at $59,192,000 after buying an additional 39,500 shares in the last quarter. Meiji Yasuda Life Insurance Co lifted its position in CME Group by 4.7% during the second quarter. Meiji Yasuda Life Insurance Co now owns 6,699 shares of the financial services provider’s stock valued at $1,371,000 after buying an additional 298 shares in the last quarter. Finally, Keebeck Alpha LP lifted its position in CME Group by 28.2% during the third quarter. Keebeck Alpha LP now owns 2,050 shares of the financial services provider’s stock valued at $363,000 after buying an additional 451 shares in the last quarter. 85.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CME has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of CME Group from $270.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, December 19th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of CME Group from $200.00 to $218.00 in a research report on Thursday, February 9th. UBS Group reduced their target price on shares of CME Group from $226.00 to $220.00 in a research report on Thursday, January 5th. Morgan Stanley boosted their target price on shares of CME Group from $196.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Monday, February 13th. Finally, StockNews.com began coverage on shares of CME Group in a report on Thursday, March 16th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $219.83.

CME Group Stock Up 1.4 %

CME Group stock opened at $191.52 on Friday. The stock has a market cap of $68.89 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 3.64 and a beta of 0.41. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $182.68 and its two-hundred day moving average price is $177.95. CME Group Inc. has a 52 week low of $166.54 and a 52 week high of $247.01.

CME Group (NASDAQ:CME – Get Rating) last announced its quarterly earnings data on Wednesday, February 8th. The financial services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.02. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. CME Group had a net margin of 53.61% and a return on equity of 10.43%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 EPS. On average, analysts expect that CME Group Inc. will post 8.43 EPS for the current fiscal year.

CME Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 27th. Shareholders of record on Friday, March 10th were issued a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.30%. This is a boost from CME Group’s previous quarterly dividend of $1.00. The ex-dividend date was Thursday, March 9th. CME Group’s dividend payout ratio (DPR) is presently 59.54%.

CME Group Company Profile

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CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.

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Institutional Ownership by Quarter for CME Group (NASDAQ:CME)

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