Perigon Wealth Management LLC Acquires Shares of 42,609 CME Group Inc. $CME

Perigon Wealth Management LLC bought a new position in shares of CME Group Inc. (NASDAQ:CME) during the 2nd quarter, Holdings Channel.com reports. The fund bought 42,609 shares of the financial services provider’s stock, valued at approximately $9,409,000.

Other large investors have also modified their holdings of the company. Bridgewater Advisors Inc. acquired a new stake in shares of CME Group in the 2nd quarter worth approximately $612,000. FLC Capital Advisors acquired a new stake in CME Group in the fourth quarter valued at $2,122,000. HighTower Advisors LLC grew its holdings in CME Group by 6.9% in the fourth quarter. HighTower Advisors LLC now owns 352,922 shares of the financial services provider’s stock valued at $96,376,000 after purchasing an additional 22,692 shares during the last quarter. North Dakota State Investment Board purchased a new position in shares of CME Group in the fourth quarter valued at $3,368,000. Finally, Rathbones Group PLC raised its stake in shares of CME Group by 1.1% during the 4th quarter. Rathbones Group PLC now owns 999,530 shares of the financial services provider’s stock worth $272,952,000 after buying an additional 10,602 shares during the last quarter. 87.75% of the stock is owned by hedge funds and other institutional investors.

CME Group Stock Down 0.7%

Shares of NASDAQ CME opened at $267.88 on Tuesday. CME Group Inc. has a 1 year low of $218.31 and a 1 year high of $329.16. The firm’s 50 day moving average price is $250.51 and its 200 day moving average price is $280.07. The firm has a market cap of $96.32 billion, a P/E ratio of 22.72, a price-to-earnings-growth ratio of 3.14 and a beta of 0.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02.

CME Group (NASDAQ:CME) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the previous year, the firm posted $2.96 EPS. CME Group’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that CME Group Inc. will post 12.27 earnings per share for the current year.

CME Group Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America increased their price objective on shares of CME Group from $226.00 to $230.00 and gave the company an “underperform” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods raised shares of CME Group from a “market perform” rating to an “outperform” rating and set a $305.00 price target on the stock in a report on Thursday, June 18th. Piper Sandler lowered their price target on shares of CME Group from $329.00 to $295.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 15th. The Goldman Sachs Group dropped their price objective on shares of CME Group from $267.00 to $245.00 and set a “sell” rating for the company in a research note on Tuesday, June 30th. Finally, Raymond James Financial restated an “outperform” rating and set a $320.00 price objective on shares of CME Group in a research report on Thursday, July 2nd. Ten analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, CME Group has a consensus rating of “Hold” and an average target price of $291.81.

Insiders Place Their Bets

In other CME Group news, Director William R. Shepard purchased 325 shares of the firm’s stock in a transaction on Thursday, June 25th. The shares were purchased at an average cost of $230.57 per share, with a total value of $74,935.25. Following the purchase, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

CME Group Company 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.