Perkins Coie Trust Co Invests $620,000 in CME Group Inc. $CME

Key Points

• Perkins Coie Trust Co has made a new investment of approximately $620,000 in CME Group Inc., purchasing 2,251 shares during the 2nd quarter.
• CME Group's quarterly earnings exceeded expectations, with earnings per share (EPS) reported at $2.96, surpassing analysts' consensus of $2.91 and reflecting a 10.4% increase in revenue year-over-year.
• The company announced a quarterly dividend of $1.25 per share, resulting in an annualized dividend of $5.00, representing a 1.9% yield.

Perkins Coie Trust Co purchased a new position in CME Group Inc. (NASDAQ:CME - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,251 shares of the financial services provider's stock, valued at approximately $620,000.

A number of other institutional investors have also added to or reduced their stakes in CME. Vanguard Group Inc. boosted its holdings in shares of CME Group by 1.2% during the first quarter. Vanguard Group Inc. now owns 34,643,827 shares of the financial services provider's stock worth $9,190,661,000 after purchasing an additional 400,737 shares during the period. Raymond James Financial Inc. lifted its holdings in CME Group by 9.7% in the first quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider's stock worth $1,091,401,000 after buying an additional 363,130 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in CME Group by 29.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider's stock worth $747,744,000 after buying an additional 648,591 shares during the period. AQR Capital Management LLC lifted its holdings in CME Group by 10.3% in the first quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider's stock worth $735,539,000 after buying an additional 260,065 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in CME Group by 11.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,727,809 shares of the financial services provider's stock worth $723,660,000 after buying an additional 290,147 shares during the period. Institutional investors own 87.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CME shares. UBS Group cut their target price on shares of CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a research report on Monday, September 8th. Wall Street Zen cut shares of CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. Barclays set a $298.00 target price on shares of CME Group and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Piper Sandler boosted their target price on shares of CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Oppenheimer upped their price target on shares of CME Group from $300.00 to $303.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $260.60.

Insider Activity

In other CME Group news, insider Sunil Cutinho sold 11,896 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total transaction of $3,229,407.12. Following the sale, the insider directly owned 17,440 shares of the company's stock, valued at $4,734,436.80. This trade represents a 40.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jonathan L. Marcus sold 392 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $262.00, for a total transaction of $102,704.00. Following the transaction, the general counsel owned 7,851 shares in the company, valued at approximately $2,056,962. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,043 shares of company stock valued at $3,527,956 over the last quarter. 0.30% of the stock is currently owned by company insiders.

CME Group Stock Down 0.3%

Shares of NASDAQ:CME traded down $0.72 during trading on Tuesday, hitting $260.36. 250,877 shares of the company were exchanged, compared to its average volume of 2,274,196. The firm's 50 day moving average price is $271.66 and its 200-day moving average price is $270.86. CME Group Inc. has a 12-month low of $213.94 and a 12-month high of $290.79. The stock has a market capitalization of $93.83 billion, a P/E ratio of 25.18, a PEG ratio of 4.73 and a beta of 0.43. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02.

CME Group (NASDAQ:CME - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $2.96 EPS for the quarter, beating the consensus estimate of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. CME Group's revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts predict that CME Group Inc. will post 10.49 earnings per share for the current fiscal year.

CME Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.9%. CME Group's dividend payout ratio is 48.40%.

About CME Group

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.