CME Group Inc. (NASDAQ:CME) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its position in CME Group Inc. (NASDAQ:CME) by 82.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,303 shares of the financial services provider’s stock after selling 29,990 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in CME Group were worth $1,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Coronation Fund Managers Ltd. bought a new stake in shares of CME Group during the 2nd quarter valued at about $313,000. Quarry LP grew its holdings in shares of CME Group by 62.6% during the second quarter. Quarry LP now owns 522 shares of the financial services provider’s stock valued at $103,000 after purchasing an additional 201 shares during the last quarter. Advisory Alpha LLC raised its position in shares of CME Group by 10.8% during the 2nd quarter. Advisory Alpha LLC now owns 4,430 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 430 shares during the period. SPC Financial Inc. raised its position in shares of CME Group by 15.9% during the 2nd quarter. SPC Financial Inc. now owns 2,949 shares of the financial services provider’s stock worth $580,000 after purchasing an additional 405 shares during the period. Finally, Brown Financial Advisors acquired a new position in CME Group during the 2nd quarter valued at approximately $644,000. Institutional investors and hedge funds own 87.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CME shares. Bank of America increased their target price on CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a research report on Thursday, October 3rd. Morgan Stanley increased their price objective on shares of CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup lowered shares of CME Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $255.00 to $250.00 in a research note on Monday, January 6th. Royal Bank of Canada restated a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Finally, 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 report on Monday, November 11th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $229.27.

Insider Activity at CME Group

In related news, Director Martin J. Gepsman sold 400 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $222.92, for a total value of $89,168.00. Following the completion of the sale, the director now owns 25,067 shares of the company’s stock, valued at approximately $5,587,935.64. The trade was a 1.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

CME Group Price Performance

NASDAQ CME opened at $232.50 on Thursday. The stock’s 50-day moving average price is $234.31 and its two-hundred day moving average price is $222.01. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $249.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a market cap of $83.78 billion, a PE ratio of 24.45, a PEG ratio of 5.28 and a beta of 0.56.

CME Group Increases Dividend

The business also recently declared a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were given a $5.80 dividend. This is a positive change from CME Group’s previous dividend of $2.50. The ex-dividend date was Friday, December 27th. CME Group’s dividend payout ratio is 48.37%.

CME Group declared that its Board of Directors has approved a share repurchase program on Thursday, December 5th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3.4% of its stock through open market purchases. Stock buyback programs are usually an indication 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.