Perigon Wealth Management LLC Invests $9.41 Million in CME Group Inc. $CME

Perigon Wealth Management LLC bought a new stake in CME Group Inc. (NASDAQ:CME) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 42,609 shares of the financial services provider’s stock, valued at approximately $9,409,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Empowered Funds LLC raised its position in shares of CME Group by 11.5% during the 1st quarter. Empowered Funds LLC now owns 10,027 shares of the financial services provider’s stock worth $2,660,000 after acquiring an additional 1,037 shares in the last quarter. Marshall Wace LLP increased its stake in CME Group by 103.1% in the second quarter. Marshall Wace LLP now owns 3,692 shares of the financial services provider’s stock valued at $1,018,000 after purchasing an additional 121,707 shares during the last quarter. Federated Hermes Inc. increased its stake in CME Group by 1,325.2% in the second quarter. Federated Hermes Inc. now owns 23,572 shares of the financial services provider’s stock valued at $6,497,000 after purchasing an additional 21,918 shares during the last quarter. Nebula Research & Development LLC acquired a new stake in CME Group during the second quarter worth approximately $992,000. Finally, The Manufacturers Life Insurance Company raised its holdings in CME Group by 2.6% during the second quarter. The Manufacturers Life Insurance Company now owns 287,876 shares of the financial services provider’s stock worth $79,344,000 after purchasing an additional 7,397 shares in the last quarter. 87.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director William R. Shepard purchased 325 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was acquired at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the purchase, the director directly owned 260,442 shares of the company’s stock, valued at $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

CME has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of CME Group from $324.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. TD Cowen decreased their price objective on shares of CME Group from $323.00 to $273.00 and set a “buy” rating for the company in a research note on Monday, June 22nd. Raymond James Financial reaffirmed an “outperform” rating and set a $320.00 price objective on shares of CME Group in a report on Thursday, July 2nd. Weiss Ratings downgraded CME Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 11th. Finally, Erste Group Bank downgraded CME Group from a “buy” rating to a “hold” rating in a report on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $291.81.

CME Group Trading Down 0.7%

NASDAQ CME opened at $267.88 on Tuesday. The firm’s fifty day moving average is $250.51 and its two-hundred day moving average is $280.07. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $96.32 billion, a PE ratio of 22.72, a P/E/G ratio of 3.14 and a beta of 0.23.

CME Group (NASDAQ:CME) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $2.96 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Analysts expect that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Wednesday, September 9th will be paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, September 9th. CME Group’s dividend payout ratio (DPR) is 44.11%.

About CME Group

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.