Mindset Wealth Management LLC Has $7.70 Million Position in CME Group Inc. (NASDAQ:CME)

Mindset Wealth Management LLC lifted its holdings in CME Group Inc. (NASDAQ:CME) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,170 shares of the financial services provider’s stock after acquiring an additional 52 shares during the period. CME Group accounts for about 2.8% of Mindset Wealth Management LLC’s portfolio, making the stock its 3rd biggest holding. Mindset Wealth Management LLC’s holdings in CME Group were worth $7,703,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Lake Street Advisors Group LLC boosted its stake in CME Group by 108.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 12,390 shares of the financial services provider’s stock valued at $2,949,000 after buying an additional 6,453 shares during the last quarter. Meyer Handelman Co. bought a new position in CME Group during the fourth quarter valued at approximately $6,144,000. Spire Wealth Management boosted its stake in CME Group by 37.4% during the fourth quarter. Spire Wealth Management now owns 1,320 shares of the financial services provider’s stock valued at $307,000 after buying an additional 359 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of CME Group by 19.3% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 326,098 shares of the financial services provider’s stock valued at $75,730,000 after purchasing an additional 52,862 shares during the last quarter. Finally, Unified Investment Management bought a new stake in shares of CME Group in the 4th quarter valued at approximately $503,000. Institutional investors own 87.75% of the company’s stock.

CME Group Trading Up 0.4 %

Shares of NASDAQ:CME opened at $266.54 on Friday. CME Group Inc. has a 12-month low of $190.70 and a 12-month high of $267.91. The business’s fifty day simple moving average is $245.81 and its 200-day simple moving average is $233.74. The company has a market capitalization of $96.05 billion, a PE ratio of 27.56, a P/E/G ratio of 6.76 and a beta of 0.53. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

CME Group (NASDAQ:CME) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.46 by $0.06. CME Group had a return on equity of 13.62% and a net margin of 57.52%. As a group, equities research analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

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

CME Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 7th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $5.00 annualized dividend and a dividend yield of 1.88%. This is an increase from CME Group’s previous quarterly dividend of $1.15. CME Group’s dividend payout ratio is 51.71%.

Insider Activity at CME Group

In related news, insider Julie Winkler sold 11,592 shares of CME Group stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $249.17, for a total value of $2,888,378.64. Following the completion of the sale, the insider now directly owns 21,885 shares in the company, valued at $5,453,085.45. This trade represents a 34.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Suzanne Sprague sold 1,500 shares of CME Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $256.83, for a total transaction of $385,245.00. Following the completion of the sale, the chief operating officer now owns 8,036 shares of the company’s stock, valued at $2,063,885.88. This trade represents a 15.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,076 shares of company stock valued at $6,871,496 in the last three months. 0.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CME. Keefe, Bruyette & Woods raised their price objective on CME Group from $256.00 to $257.00 and gave the company a “market perform” rating in a research note on Friday, February 14th. Piper Sandler raised their price objective on CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Morgan Stanley raised their price objective on CME Group from $256.00 to $263.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 19th. Citigroup downgraded CME Group from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $255.00 to $250.00 in a report on Monday, January 6th. Finally, Barclays increased their price target on CME Group from $257.00 to $263.00 and gave the stock an “equal weight” rating in a report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $238.93.

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.