Eagle Ridge Investment Management Acquires 266 Shares of CME Group Inc. (NASDAQ:CME)

Eagle Ridge Investment Management increased its holdings in shares of CME Group Inc. (NASDAQ:CME) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,523 shares of the financial services provider’s stock after acquiring an additional 266 shares during the period. CME Group makes up 2.5% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 11th largest holding. Eagle Ridge Investment Management’s holdings in CME Group were worth $28,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in CME Group during the 3rd quarter valued at about $26,000. SJS Investment Consulting Inc. boosted its holdings in CME Group by 570.6% in the fourth quarter. SJS Investment Consulting Inc. now owns 114 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 97 shares during the last quarter. Dunhill Financial LLC grew its position in CME Group by 188.4% in the 3rd quarter. Dunhill Financial LLC now owns 124 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 81 shares during the period. Financial Life Planners bought a new position in shares of CME Group during the 4th quarter valued at $32,000. Finally, Fortitude Family Office LLC boosted its stake in shares of CME Group by 120.3% in the 4th quarter. Fortitude Family Office LLC now owns 152 shares of the financial services provider’s stock worth $35,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 87.75% of the company’s stock.

CME Group Trading Up 1.1 %

CME opened at $244.41 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The stock’s 50 day moving average price is $235.20 and its 200-day moving average price is $223.49. CME Group Inc. has a one year low of $190.70 and a one year high of $249.02. The stock has a market cap of $88.08 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 5.37 and a beta of 0.57.

CME Group announced that its board has authorized a share buyback program on Thursday, December 5th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

CME Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 7th will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.05%. This is an increase from CME Group’s previous quarterly dividend of $1.15. CME Group’s dividend payout ratio is 48.37%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CME. Keefe, Bruyette & Woods lowered their price objective on shares of CME Group from $260.00 to $256.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their price objective on CME Group from $227.00 to $226.00 and set a “hold” rating for the company in a research note on Monday, November 11th. Barclays upped their price target 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. Oppenheimer lifted their target price on shares of CME Group from $245.00 to $258.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $235.00 price target on shares of CME Group in a research note on Monday, January 6th. Four 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 a consensus target price of $229.27.

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.