Core Alternative Capital Has $6.99 Million Position in CME Group Inc. (NASDAQ:CME)

Core Alternative Capital reduced its position in CME Group Inc. (NASDAQ:CME) by 3.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 30,096 shares of the financial services provider’s stock after selling 1,205 shares during the period. CME Group accounts for approximately 1.5% of Core Alternative Capital’s investment portfolio, making the stock its 26th largest holding. Core Alternative Capital’s holdings in CME Group were worth $6,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Meyer Handelman Co. bought a new stake in shares of CME Group during the fourth quarter worth $6,144,000. Spire Wealth Management raised its position in shares of CME Group by 37.4% during the fourth quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 359 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc raised its position in shares of CME Group by 19.3% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 326,098 shares of the financial services provider’s stock worth $75,730,000 after acquiring an additional 52,862 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CME Group by 1.8% during the third quarter. Geode Capital Management LLC now owns 8,284,745 shares of the financial services provider’s stock worth $1,823,964,000 after acquiring an additional 142,692 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its position in shares of CME Group by 58.4% during the third quarter. Worldquant Millennium Advisors LLC now owns 613,828 shares of the financial services provider’s stock worth $135,441,000 after acquiring an additional 226,306 shares during the last quarter. Institutional investors own 87.75% of the company’s stock.

CME Group Stock Performance

CME opened at $241.81 on Tuesday. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $249.02. The firm has a market capitalization of $87.14 billion, a PE ratio of 25.43, a PEG ratio of 5.54 and a beta of 0.57. 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 simple moving average is $235.48 and its 200 day simple moving average is $224.32.

CME Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 7th will be issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 7th. This is a positive change from CME Group’s previous quarterly dividend of $1.15. CME Group’s dividend payout ratio is presently 52.58%.

CME Group announced that its board has initiated a stock repurchase plan 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 reacquire up to 3.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CME shares. Barclays lifted their price objective on CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. 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 research note on Monday, November 11th. Piper Sandler lifted their price objective on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $235.00 price objective on shares of CME Group in a research note on Monday, January 6th. Finally, Oppenheimer lifted their price objective on CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, CME Group presently has an average rating of “Hold” and a consensus target price of $229.27.

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.