SteelPeak Wealth LLC Invests $216,000 in CME Group Inc. (NASDAQ:CME)

SteelPeak Wealth LLC purchased a new stake in CME Group Inc. (NASDAQ:CME) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 928 shares of the financial services provider’s stock, valued at approximately $216,000.

Other large investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of CME Group by 0.6% during the third quarter. Harbor Capital Advisors Inc. now owns 7,810 shares of the financial services provider’s stock worth $1,723,000 after purchasing an additional 45 shares during the period. CVA Family Office LLC lifted its stake in shares of CME Group by 11.8% in the 3rd quarter. CVA Family Office LLC now owns 436 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 46 shares during the period. Zions Bancorporation N.A. increased its stake in shares of 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 worth $338,000 after acquiring an additional 54 shares during the period. Independent Wealth Network Inc. raised its holdings 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 worth $623,000 after purchasing an additional 54 shares in the last quarter. Finally, Quent Capital LLC lifted its position in CME Group by 10.2% in the third quarter. Quent Capital LLC now owns 593 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 55 shares during the period. Institutional investors and hedge funds own 87.75% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Citigroup cut CME Group from a “buy” rating to a “neutral” rating and dropped 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 objective on CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. Barclays boosted 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. Piper Sandler increased their price target on shares of CME Group from $250.00 to $258.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, 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. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $229.27.

Insider Activity

In other news, Director Martin J. Gepsman sold 400 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the sale, the director now directly owns 25,067 shares of the company’s stock, valued at $5,587,935.64. The trade was a 1.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

CME Group Price Performance

CME stock opened at $236.52 on Friday. The stock has a market capitalization of $85.23 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a 52-week low of $190.70 and a 52-week high of $249.02. The stock’s fifty day simple moving average is $234.58 and its 200-day simple moving average is $222.18.

CME Group Increases Dividend

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

CME Group declared that its board has approved 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 repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.