Smith Group Asset Management LLC Acquires New Holdings in CME Group Inc. (NASDAQ:CME)

Smith Group Asset Management LLC bought a new stake in CME Group Inc. (NASDAQ:CME) during the fourth quarter, Holdings Channel.com reports. The firm bought 6,207 shares of the financial services provider’s stock, valued at approximately $1,441,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Truvestments Capital LLC acquired a new stake in shares of CME Group during the 3rd quarter valued at $26,000. SJS Investment Consulting Inc. raised its position in CME Group by 570.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 97 shares during the last quarter. Dunhill Financial LLC boosted its stake in shares of CME Group by 188.4% during the third quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 81 shares in the last quarter. Fortitude Family Office LLC grew its holdings in shares of 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 purchasing an additional 83 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of CME Group by 62.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 193 shares of the financial services provider’s stock valued at $43,000 after buying an additional 74 shares during the period. Institutional investors own 87.75% of the company’s stock.

Insider Buying and Selling

In other CME Group news, Director Martin J. Gepsman sold 400 shares of the 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 transaction, the director now owns 25,067 shares in the company, valued at approximately $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is owned by insiders.

CME Group Price Performance

Shares of CME opened at $234.39 on Wednesday. The firm has a market cap of $84.46 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $249.02. The business’s 50 day moving average price is $234.31 and its two-hundred day moving average price is $222.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02.

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

CME Group Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from CME Group’s previous dividend of $2.50. CME Group’s payout ratio is presently 48.37%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CME. Citigroup downgraded shares of CME Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $255.00 to $250.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods cut their price target on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft decreased their price objective on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a report on Monday, November 11th. Morgan Stanley lifted their target price on CME Group from $210.00 to $233.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price target on CME Group from $195.00 to $198.00 and gave the company a “sell” rating in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, CME Group has an average rating of “Hold” and a consensus target price of $229.27.

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.