Perkins Coie Trust Co Makes New $620,000 Investment 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 stake in CME Group Inc. (NASDAQ:CME - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,251 shares of the financial services provider's stock, valued at approximately $620,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in CME Group by 1.2% during the 1st 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. increased its position in CME Group by 9.7% during the 1st quarter. Raymond James Financial Inc. now owns 4,113,991 shares of the financial services provider's stock worth $1,091,401,000 after purchasing an additional 363,130 shares during the period. Massachusetts Financial Services Co. MA increased its position in CME Group by 29.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,818,590 shares of the financial services provider's stock worth $747,744,000 after purchasing an additional 648,591 shares during the period. AQR Capital Management LLC increased its position in CME Group by 10.3% during the 1st quarter. AQR Capital Management LLC now owns 2,783,759 shares of the financial services provider's stock worth $735,539,000 after purchasing an additional 260,065 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in CME Group by 11.9% during the 1st 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 purchasing an additional 290,147 shares during the period. Institutional investors and hedge funds own 87.75% of the company's stock.

Insider Activity at CME Group

In other CME Group news, insider Timothy Francis Mccourt sold 379 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $259.83, for a total transaction of $98,475.57. Following the sale, the insider owned 9,508 shares in the company, valued at $2,470,463.64. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sunil Cutinho sold 11,896 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $271.47, for a total value of $3,229,407.12. Following the sale, the insider owned 17,440 shares in the company, valued at $4,734,436.80. The trade was a 40.55% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,043 shares of company stock worth $3,527,956. Company insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

CME has been the topic of several research analyst reports. Wall Street Zen lowered CME Group from a "hold" rating to a "sell" rating in a research note on Sunday, July 13th. UBS Group dropped their price target on CME Group from $305.00 to $285.00 and set a "neutral" rating for the company in a research report on Monday, September 8th. Citigroup boosted their price target on CME Group from $265.00 to $275.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Piper Sandler boosted their price target on CME Group from $283.00 to $296.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Finally, Oppenheimer upped their price objective on CME Group from $300.00 to $303.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $260.60.

CME Group Stock Down 0.2%

NASDAQ CME traded down $0.45 during trading hours on Monday, hitting $261.08. The company had a trading volume of 1,069,495 shares, compared to its average volume of 2,283,281. CME Group Inc. has a fifty-two week low of $212.60 and a fifty-two week high of $290.79. The company has a market capitalization of $94.09 billion, a price-to-earnings ratio of 25.27, a P/E/G 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. The firm's 50 day moving average is $271.98 and its 200 day moving average is $270.81.

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

CME Group Dividend Announcement

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

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.