IHT Wealth Management LLC increased its holdings in CME Group Inc. (NASDAQ:CME – Get Rating) by 40.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,140 shares of the financial services provider’s stock after purchasing an additional 1,487 shares during the period. IHT Wealth Management LLC’s holdings in CME Group were worth $910,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CME. Power Corp of Canada purchased a new stake in shares of CME Group during the 1st quarter worth approximately $26,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of CME Group during the 2nd quarter worth approximately $29,000. Lowe Wealth Advisors LLC purchased a new stake in shares of CME Group during the 3rd quarter worth approximately $31,000. Vigilant Capital Management LLC raised its holdings in shares of CME Group by 108.4% during the 3rd quarter. Vigilant Capital Management LLC now owns 173 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 90 shares in the last quarter. Finally, MayTech Global Investments LLC purchased a new stake in shares of CME Group during the 1st quarter worth approximately $36,000. 85.09% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on the company. Credit Suisse Group increased their price target on CME Group from $192.00 to $198.00 and gave the company an “outperform” rating in a report on Tuesday, February 7th. Rosenblatt Securities restated a “sell” rating and set a $161.00 price target on shares of CME Group in a report on Thursday, February 9th. Citigroup decreased their price target on CME Group from $214.29 to $210.00 in a report on Thursday, January 12th. Piper Sandler decreased their price target on CME Group from $270.00 to $250.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on CME Group from $200.00 to $218.00 in a report on Thursday, February 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $219.83.
CME Group Stock Performance
CME Group (NASDAQ:CME – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The financial services provider reported $1.92 EPS for the quarter, beating the consensus estimate of $1.90 by $0.02. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. CME Group had a return on equity of 10.43% and a net margin of 53.61%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.66 earnings per share. On average, equities research analysts expect that CME Group Inc. will post 8.46 earnings per share for the current fiscal year.
CME Group Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 27th. Stockholders of record on Friday, March 10th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $4.40 annualized dividend and a dividend yield of 2.37%. This is a positive change from CME Group’s previous quarterly dividend of $1.00. CME Group’s dividend payout ratio (DPR) is currently 59.54%.
About CME Group
CME Group, Inc operates a derivatives marketplace, which offers a range of futures and options products for risk management. Its exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural commodities and metals.
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