Koa Wealth Management LLC Has $1.94 Million Stock Position in CME Group Inc. (NASDAQ:CME)

Koa Wealth Management LLC cut its position in CME Group Inc. (NASDAQ:CME) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,360 shares of the financial services provider’s stock after selling 1,298 shares during the period. CME Group accounts for approximately 1.6% of Koa Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Koa Wealth Management LLC’s holdings in CME Group were worth $1,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CME. Coronation Fund Managers Ltd. bought a new position in shares of CME Group in the second quarter valued at $313,000. Brown Financial Advisors acquired a new position in CME Group during the 2nd quarter valued at about $644,000. Sanctuary Advisors LLC bought a new stake in CME Group during the 2nd quarter worth approximately $9,013,000. Heritage Wealth Management Inc. purchased a new stake in shares of CME Group in the second quarter worth approximately $286,000. Finally, Mattson Financial Services LLC bought a new position in shares of CME Group in the second quarter valued at approximately $1,087,000. 87.75% of the stock is owned by institutional investors.

CME Group Stock Performance

Shares of CME opened at $235.92 on Friday. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $249.02. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $234.40 and its two-hundred day moving average price is $222.08. The firm has a market cap of $85.02 billion, a PE ratio of 24.81, a PEG ratio of 5.28 and a beta of 0.56.

CME Group Increases Dividend

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

CME Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 5th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup lowered CME Group from a “buy” rating to a “neutral” rating and lowered their price target for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Oppenheimer raised their price target on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. 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. Barclays lifted their target price on shares of CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, The Goldman Sachs Group boosted their target price on CME Group from $195.00 to $198.00 and gave the stock a “sell” rating in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, CME Group has an average rating of “Hold” and a consensus target price of $229.27.

Insiders Place Their Bets

In other news, Director Martin J. Gepsman sold 400 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 25,067 shares of the company’s stock, valued at $5,587,935.64. This trade represents a 1.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

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.