Mediolanum International Funds Ltd Invests $1.11 Million in CME Group Inc. (NASDAQ:CME)

Mediolanum International Funds Ltd bought a new position in CME Group Inc. (NASDAQ:CME) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,796 shares of the financial services provider’s stock, valued at approximately $1,108,000.

Other large investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its position in shares of CME Group by 0.6% in the third quarter. Harbor Capital Advisors Inc. now owns 7,810 shares of the financial services provider’s stock valued at $1,723,000 after acquiring an additional 45 shares during the period. CVA Family Office LLC lifted its position in CME Group by 11.8% during the third quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 46 shares during the last quarter. First Affirmative Financial Network lifted its position in CME Group by 2.3% during the fourth quarter. First Affirmative Financial Network now owns 2,141 shares of the financial services provider’s stock valued at $497,000 after purchasing an additional 49 shares during the last quarter. Zions Bancorporation N.A. lifted its position in CME Group by 3.7% during the third quarter. Zions Bancorporation N.A. now owns 1,530 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 54 shares during the last quarter. Finally, Independent Wealth Network Inc. lifted its position in CME Group by 2.1% during the fourth quarter. Independent Wealth Network Inc. now owns 2,683 shares of the financial services provider’s stock valued at $623,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CME shares. Morgan Stanley lifted their target price on shares of CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Piper Sandler lifted their target price on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Oppenheimer boosted their price objective on shares of CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a report on Monday, November 11th. Four research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $229.27.

CME Group Stock Up 0.3 %

NASDAQ:CME opened at $236.52 on Monday. The firm’s 50-day moving average price is $234.73 and its 200-day moving average price is $222.63. The company has a market capitalization of $85.23 billion, a PE ratio of 24.87, a P/E/G ratio of 5.28 and a beta of 0.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $249.02.

CME Group Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were given a $5.80 dividend. 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 currently 48.37%.

CME Group announced that its board has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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.