Foyston Gordon & Payne Inc Makes New Investment in CME Group Inc. $CME

Key Points

• Foyston Gordon & Payne initiated a position in CME Group during the second quarter, purchasing 12,281 shares valued at approximately $2.7 million. Institutional investors collectively own 87.75% of the company.
• CME Group beat quarterly expectations, reporting $2.99 EPS and $1.71 billion in revenue, while revenue increased 0.8% year over year. The company also declared a $1.30 quarterly dividend, equating to a 1.9% yield.
• Analyst sentiment remains mixed: nine analysts rate the stock a Buy, six a Hold and three a Sell, producing a consensus Hold rating and an average price target of $288.56.

Foyston Gordon & Payne Inc bought a new position in CME Group Inc. (NASDAQ:CME - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 12,281 shares of the financial services provider's stock, valued at approximately $2,712,000.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of CME Group by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 35,895,583 shares of the financial services provider's stock valued at $9,802,366,000 after acquiring an additional 588,509 shares in the last quarter. BlackRock Inc. purchased a new position in CME Group during the 2nd quarter worth approximately $6,749,965,000. State Street Corp grew its position in CME Group by 0.4% during the 4th quarter. State Street Corp now owns 16,144,525 shares of the financial services provider's stock worth $4,408,747,000 after purchasing an additional 56,725 shares in the last quarter. Norges Bank acquired a new stake in CME Group during the 4th quarter valued at $1,523,241,000. Finally, Bank of New York Mellon Corp raised its stake in CME Group by 2.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,924,475 shares of the financial services provider's stock valued at $1,344,776,000 after purchasing an additional 134,242 shares during the period. Institutional investors and hedge funds own 87.75% of the company's stock.

Insider Transactions at CME Group

In other news, Director William R. Shepard acquired 325 shares of CME Group stock in a transaction that occurred on Thursday, June 25th. The stock was purchased at an average price of $230.57 per share, with a total value of $74,935.25. Following the completion of the transaction, the director owned 260,442 shares in the company, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company's stock.

CME Group Stock Up 1.5%

CME Group stock opened at $274.98 on Friday. CME Group Inc. has a twelve month low of $218.31 and a twelve month 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 $98.88 billion, a PE ratio of 23.32, a P/E/G ratio of 3.20 and a beta of 0.23. The firm's 50 day moving average price is $251.17 and its two-hundred day moving average price is $279.65.

CME Group (NASDAQ:CME - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $2.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.08. CME Group had a net margin of 63.30% and a return on equity of 15.60%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.68 billion. During the same quarter last year, the business posted $2.96 EPS. The company's revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that CME Group Inc. will post 12.27 EPS for the current fiscal year.

CME Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Wednesday, September 9th will be issued a dividend of $1.30 per share. 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 currently 44.11%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CME shares. Piper Sandler reduced their target price on CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft downgraded CME Group from a "buy" rating to a "hold" rating and lowered their price target for the company from $286.00 to $270.00 in a report on Wednesday. Bank of America upped their price target on CME Group from $226.00 to $230.00 and gave the company an "underperform" rating in a research report on Thursday, July 23rd. Rothschild & Co Redburn raised CME Group from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $316.00 to $323.00 in a research note on Thursday, June 11th. Finally, Morgan Stanley raised their price objective on CME Group from $324.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $288.56.

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.

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