Drive Wealth Management LLC Purchases 66 Shares of CME Group Inc. (NASDAQ:CME)

Drive Wealth Management LLC grew its stake in shares of CME Group Inc. (NASDAQ:CME) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,426 shares of the financial services provider’s stock after buying an additional 66 shares during the period. Drive Wealth Management LLC’s holdings in CME Group were worth $339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Coronation Fund Managers Ltd. bought a new stake in CME Group in the 2nd quarter worth about $313,000. NewEdge Advisors LLC grew its stake in shares of CME Group by 3.8% during the 2nd quarter. NewEdge Advisors LLC now owns 46,937 shares of the financial services provider’s stock valued at $9,228,000 after acquiring an additional 1,733 shares during the period. Quarry LP grew its stake in shares of CME Group by 62.6% during the 2nd quarter. Quarry LP now owns 522 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 201 shares during the period. Regal Investment Advisors LLC grew its stake in shares of CME Group by 1.4% during the 2nd quarter. Regal Investment Advisors LLC now owns 19,193 shares of the financial services provider’s stock valued at $3,773,000 after acquiring an additional 273 shares during the period. Finally, Advisory Alpha LLC grew its stake 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 valued at $871,000 after acquiring an additional 430 shares during the period. 87.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other CME Group news, insider Sunil Cutinho sold 4,500 shares of CME Group stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $226.64, for a total value of $1,019,880.00. Following the sale, the insider now owns 27,053 shares in the company, valued at $6,131,291.92. The trade was a 14.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy S. Bitsberger sold 1,000 shares of CME Group stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $226.96, for a total value of $226,960.00. Following the completion of the sale, the director now directly owns 10,589 shares of the company’s stock, valued at $2,403,279.44. The trade was a 8.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,900 shares of company stock worth $1,336,008. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CME shares. 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. The Goldman Sachs Group boosted their price target on CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a report on Thursday, October 3rd. Redburn Atlantic cut CME Group from a “buy” rating to a “neutral” rating and set a $244.00 price target on the stock. in a report on Tuesday, October 8th. Citigroup cut CME Group from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $255.00 to $250.00 in a report on Monday, January 6th. Finally, Bank of America upped their price objective on CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $229.27.

CME Group Stock Performance

Shares of CME Group stock opened at $236.95 on Tuesday. CME Group Inc. has a one year low of $190.70 and a one year high of $249.02. The company has a market cap of $85.39 billion, a price-to-earnings ratio of 24.92, a PEG ratio of 5.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50 day moving average price is $234.02 and its 200 day moving average price is $221.43.

CME Group announced that its Board of Directors has authorized a share buyback plan on Thursday, December 5th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

CME Group Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 27th were given a dividend of $5.80 per share. This is an increase from CME Group’s previous dividend of $2.50. The ex-dividend date was Friday, December 27th. CME Group’s dividend payout ratio (DPR) is presently 48.37%.

CME Group 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.