Citizens Financial Group Inc. RI Buys 1,062 Shares of CME Group Inc. (NASDAQ:CME)

Citizens Financial Group Inc. RI lifted its position in CME Group Inc. (NASDAQ:CME) by 77.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,431 shares of the financial services provider’s stock after purchasing an additional 1,062 shares during the period. Citizens Financial Group Inc. RI’s holdings in CME Group were worth $564,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CME. Raymond James Financial Inc. bought a new position in CME Group during the 4th quarter valued at approximately $871,063,000. Franklin Resources Inc. raised its holdings in shares of CME Group by 70.4% during the third quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider’s stock valued at $544,157,000 after acquiring an additional 1,003,119 shares in the last quarter. Capital Wealth Planning LLC lifted its stake in CME Group by 69.2% in the fourth quarter. Capital Wealth Planning LLC now owns 2,435,823 shares of the financial services provider’s stock worth $565,671,000 after acquiring an additional 996,498 shares during the period. Canoe Financial LP increased its position in CME Group by 698.0% during the 4th quarter. Canoe Financial LP now owns 544,219 shares of the financial services provider’s stock valued at $126,384,000 after purchasing an additional 476,019 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in CME Group by 266.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 529,000 shares of the financial services provider’s stock valued at $122,850,000 after purchasing an additional 384,547 shares during the period. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Up 1.2 %

NASDAQ:CME opened at $259.84 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.01. The firm has a market cap of $93.64 billion, a P/E ratio of 26.87, a P/E/G ratio of 6.76 and a beta of 0.53. CME Group Inc. has a fifty-two week low of $190.70 and a fifty-two week high of $263.65. The firm has a 50-day simple moving average of $242.28 and a two-hundred day simple moving average of $231.97.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.06. CME Group had a net margin of 57.52% and a return on equity of 13.62%. Analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

CME Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 7th will be issued a dividend of $1.25 per share. 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 1.92%. The ex-dividend date is Friday, March 7th. CME Group’s dividend payout ratio is presently 51.71%.

Insider Activity at CME Group

In related news, insider Hilda Harris Piell sold 3,984 shares of CME Group stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $250.47, for a total transaction of $997,872.48. Following the sale, the insider now owns 27,046 shares of the company’s stock, valued at approximately $6,774,211.62. This trade represents a 12.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julie Winkler sold 11,592 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $249.17, for a total value of $2,888,378.64. Following the completion of the transaction, the insider now directly owns 21,885 shares in the company, valued at approximately $5,453,085.45. This represents a 34.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,076 shares of company stock valued at $4,271,496 over the last ninety days. Insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CME. Royal Bank of Canada raised their target price on shares of CME Group from $235.00 to $269.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 13th. Morgan Stanley lifted their price objective on CME Group from $256.00 to $263.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 19th. Barclays upped their target price on CME Group from $257.00 to $263.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on CME Group from $209.00 to $212.00 and gave the company an “underweight” rating in a research note on Thursday, February 13th. Finally, Piper Sandler upped their price target on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, CME Group currently has an average rating of “Hold” and a consensus price target of $238.93.

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.