CME Group Inc. $CME Shares Purchased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in CME Group Inc. by 9.7%, holding approximately $1.09 billion worth of shares as of the last reporting period.
• The company reported $2.96 earnings per share for the latest quarter, exceeding the consensus estimate by $0.05, with year-over-year revenue growth of 10.4%.
• CME Group announced a quarterly dividend of $1.25 per share, representing an annualized dividend of $5.00 and a yield of 1.8%.

Raymond James Financial Inc. increased its position in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 9.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,113,991 shares of the financial services provider's stock after purchasing an additional 363,130 shares during the period. Raymond James Financial Inc. owned approximately 1.14% of CME Group worth $1,091,401,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CME. Wayfinding Financial LLC purchased a new position in CME Group during the first quarter worth about $25,000. Cornerstone Planning Group LLC raised its holdings in CME Group by 122.2% during the first quarter. Cornerstone Planning Group LLC now owns 100 shares of the financial services provider's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in CME Group by 612.5% during the first quarter. Golden State Wealth Management LLC now owns 114 shares of the financial services provider's stock worth $30,000 after purchasing an additional 98 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in CME Group during the first quarter worth about $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in CME Group during the first quarter worth about $32,000. 87.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at CME Group

In other news, Director William R. Shepard bought 256 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were purchased at an average price of $270.53 per share, for a total transaction of $69,255.68. Following the completion of the transaction, the director owned 258,196 shares in the company, valued at $69,849,763.88. The trade was a 0.10% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Daniel G. Kaye sold 500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $282.42, for a total transaction of $141,210.00. Following the sale, the director owned 3,668 shares in the company, valued at approximately $1,035,916.56. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CME shares. Morgan Stanley upped their target price on shares of CME Group from $301.00 to $304.00 and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Erste Group Bank cut CME Group from a "strong-buy" rating to a "hold" rating in a report on Saturday, May 24th. Piper Sandler upped their price target on CME Group from $283.00 to $296.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on CME Group from $265.00 to $273.00 and gave the stock a "market perform" rating in a report on Thursday, April 24th. Finally, Citigroup upped their price target on CME Group from $265.00 to $275.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $261.93.

CME Group Price Performance

Shares of CME traded up $3.1160 during mid-day trading on Wednesday, reaching $274.6060. 1,283,596 shares of the company's stock were exchanged, compared to its average volume of 2,332,817. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a 50-day simple moving average of $275.67 and a two-hundred day simple moving average of $267.85. CME Group Inc. has a 52-week low of $206.44 and a 52-week high of $290.79. The company has a market cap of $98.96 billion, a price-to-earnings ratio of 26.58, a PEG ratio of 4.80 and a beta of 0.44.

CME Group (NASDAQ:CME - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The financial services provider reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.05. CME Group had a net margin of 58.48% and a return on equity of 14.60%. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.68 billion. During the same period last year, the company posted $2.56 EPS. The company's revenue was up 10.4% on a year-over-year basis. On average, sell-side analysts predict that CME Group Inc. will post 10.49 EPS for the current fiscal year.

CME Group Announces Dividend

The firm also recently disclosed 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. This represents a $5.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Tuesday, September 9th. CME Group's dividend payout ratio (DPR) is 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.