Confluence Wealth Services Inc. Sells 1,021 Shares of CME Group Inc. (NASDAQ:CME)

Confluence Wealth Services Inc. lessened its position in CME Group Inc. (NASDAQ:CME) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,927 shares of the financial services provider’s stock after selling 1,021 shares during the period. Confluence Wealth Services Inc.’s holdings in CME Group were worth $683,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CME. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of CME Group by 24.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,603 shares of the financial services provider’s stock valued at $9,400,000 after purchasing an additional 8,609 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in CME Group by 129.5% during the 4th quarter. Y.D. More Investments Ltd now owns 443 shares of the financial services provider’s stock worth $103,000 after buying an additional 250 shares during the period. Stratos Wealth Partners LTD. lifted its stake in CME Group by 30.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 2,744 shares of the financial services provider’s stock valued at $637,000 after buying an additional 636 shares in the last quarter. Mather Group LLC. boosted its holdings in shares of CME Group by 3.5% in the fourth quarter. Mather Group LLC. now owns 1,439 shares of the financial services provider’s stock valued at $334,000 after buying an additional 49 shares during the period. Finally, Brown Lisle Cummings Inc. increased its position in shares of CME Group by 252.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 352 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 252 shares in the last quarter. 87.75% of the stock is owned by institutional investors.

CME Group Price Performance

NASDAQ:CME opened at $241.64 on Thursday. The stock has a market capitalization of $87.08 billion, a PE ratio of 25.41, a P/E/G ratio of 5.37 and a beta of 0.57. CME Group Inc. has a 1-year low of $190.70 and a 1-year high of $249.02. The firm has a fifty day simple moving average of $235.11 and a 200 day simple moving average of $223.36. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

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

CME Group Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were given a $5.80 dividend. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio (DPR) is 48.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup cut shares of CME Group from a “buy” rating to a “neutral” rating and cut their price objective for the company from $255.00 to $250.00 in a research report on Monday, January 6th. Morgan Stanley boosted their price target on CME Group from $210.00 to $233.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods decreased their price objective on CME Group from $260.00 to $256.00 and set a “market perform” rating for the company in a report on Monday, January 13th. Royal Bank of Canada reissued a “sector perform” rating and issued a $235.00 target price on shares of CME Group in a research report on Monday, January 6th. Finally, Piper Sandler upped their price target on CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $229.27.

CME Group 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.