CME Group Inc. $CME Shares Bought by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its stake in CME Group by 27.9% in the fourth quarter, buying 43,095 more shares to bring its total to 197,469 shares worth about $53.9 million.
• CME Group reported strong quarterly results, with earnings of $3.36 per share beating estimates and revenue of $1.88 billion topping expectations; revenue rose 14.5% year over year.
• The company also announced a quarterly dividend of $1.30 per share, payable June 25, while insider selling continued, including notable sales by Hilda Harris Piell and Jonathan L. Marcus.

CIBC Asset Management Inc grew its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 27.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,469 shares of the financial services provider's stock after purchasing an additional 43,095 shares during the period. CIBC Asset Management Inc owned approximately 0.05% of CME Group worth $53,900,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Marble Wealth LLC acquired a new position in CME Group during the fourth quarter worth $452,000. Mccarter Private Wealth Services LLC acquired a new position in CME Group during the fourth quarter worth $288,000. Dover Advisors LLC lifted its stake in CME Group by 2.2% during the fourth quarter. Dover Advisors LLC now owns 5,722 shares of the financial services provider's stock worth $1,563,000 after purchasing an additional 125 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in CME Group by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider's stock worth $1,344,776,000 after purchasing an additional 134,242 shares in the last quarter. Finally, Bruce G. Allen Investments LLC lifted its stake in CME Group by 14.4% during the fourth quarter. Bruce G. Allen Investments LLC now owns 342 shares of the financial services provider's stock worth $93,000 after purchasing an additional 43 shares in the last quarter. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on CME. Wall Street Zen cut CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, April 26th. Raymond James Financial upped their price objective on CME Group from $310.00 to $320.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Piper Sandler upped their price objective on CME Group from $313.00 to $329.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Keefe, Bruyette & Woods assumed coverage on CME Group in a research report on Wednesday, April 8th. They set a "market perform" rating and a $305.00 price objective on the stock. Finally, Argus reaffirmed a "hold" rating on shares of CME Group in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, CME Group has a consensus rating of "Moderate Buy" and a consensus target price of $305.29.

CME Group Stock Up 0.8%

CME Group stock opened at $252.64 on Thursday. CME Group Inc. has a twelve month low of $244.56 and a twelve month high of $329.16. The stock's fifty day simple moving average is $290.01 and its 200-day simple moving average is $289.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $91.55 billion, a P/E ratio of 21.56, a P/E/G ratio of 2.80 and a beta of 0.21.

CME Group (NASDAQ:CME - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $3.36 earnings per share for the quarter, topping analysts' consensus estimates of $3.11 by $0.25. CME Group had a return on equity of 15.42% and a net margin of 63.19%.The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same quarter in the prior year, the company earned $2.80 earnings per share. The company's revenue was up 14.5% on a year-over-year basis. As a group, equities analysts expect that CME Group Inc. will post 12.28 earnings per share for the current fiscal year.

CME Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, June 9th. CME Group's dividend payout ratio is 44.37%.

Insider Activity at CME Group

In related news, insider Hilda Harris Piell sold 5,753 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $304.63, for a total value of $1,752,536.39. Following the transaction, the insider owned 27,702 shares of the company's stock, valued at $8,438,860.26. This represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Jonathan L. Marcus sold 3,291 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $333.37, for a total value of $1,097,120.67. Following the completion of the transaction, the general counsel directly owned 7,192 shares in the company, valued at $2,397,597.04. This trade represents a 31.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 44,044 shares of company stock valued at $13,297,507 over the last quarter. 0.30% of the stock is owned by insiders.

CME Group Profile

CME Group Inc is a global markets company that operates some of the world's largest and most liquid derivatives exchanges, including the Chicago Mercantile Exchange (CME), the Chicago Board of Trade (CBOT), the New York Mercantile Exchange (NYMEX) and COMEX. The firm offers futures and options contracts across a broad range of asset classes — including interest rates, equity indexes, foreign exchange, energy, agricultural commodities and metals — and serves a diverse client base of institutional investors, commercial hedgers, brokers and retail participants.

The company's core services include electronic trading on the CME Globex platform, central clearing through CME Clearing, and distribution of market data, indexes and analytics.

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