Sierra Ocean LLC Takes Position in CME Group Inc. (NASDAQ:CME)

Sierra Ocean LLC acquired a new stake in CME Group Inc. (NASDAQ:CME) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 280 shares of the financial services provider’s stock, valued at approximately $65,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CME. Truvestments Capital LLC acquired a new stake in shares of CME Group during the 3rd quarter worth about $26,000. SJS Investment Consulting Inc. raised its position in shares of CME Group by 570.6% during the 4th quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 97 shares in the last quarter. Dunhill Financial LLC raised its position in shares of CME Group by 188.4% during the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 81 shares in the last quarter. Financial Life Planners acquired a new position in CME Group during the fourth quarter worth approximately $32,000. Finally, Fortitude Family Office LLC increased its position in CME Group by 120.3% during the fourth 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 period. Institutional investors and hedge funds own 87.75% of the company’s stock.

CME Group Stock Down 1.9 %

CME Group stock opened at $245.48 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $253.53. The company has a market cap of $88.46 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 5.54 and a beta of 0.57. The stock’s 50 day moving average price is $235.95 and its 200 day moving average price is $226.00.

CME Group (NASDAQ:CME) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. CME Group had a return on equity of 13.39% and a net margin of 57.34%. On average, sell-side analysts predict that CME Group Inc. will post 10.18 EPS for the current fiscal year.

CME Group Increases Dividend

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

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

Analyst Ratings Changes

CME has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on CME Group from $209.00 to $212.00 and gave the stock an “underweight” rating in a research report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut their price target on CME Group from $227.00 to $226.00 and set a “hold” rating on the stock in a research report on Monday, November 11th. Piper Sandler lifted their price target on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Oppenheimer lifted their price target on CME Group from $258.00 to $269.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, Citigroup lowered 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 report on Monday, January 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $234.13.

Insider Activity at CME Group

In other CME Group news, insider Julie Winkler sold 11,592 shares of the business’s stock in a transaction 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 in the company, valued at approximately $5,453,085.45. The trade was a 34.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.30% of the company’s stock.

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.