Wellington Management Group LLP Acquires 358,018 Shares of CME Group Inc. $CME

Key Points

• Wellington Management increased its CME Group stake by 24.6% in the second quarter, acquiring 358,018 shares for a total holding of 1.82 million shares valued at approximately $401 million. Institutional investors collectively own 87.75% of the company.
• CME Group exceeded quarterly expectations, reporting $2.99 in adjusted earnings per share and $1.71 billion in revenue, while revenue rose 0.8% year over year. Analysts expect full-year earnings of $12.27 per share.
• The company declared a quarterly dividend of $1.30 per share, equivalent to $5.20 annually and a 1.8% yield. Analyst sentiment is mixed, with an average “Hold” rating and a consensus price target of $288.56.

Wellington Management Group LLP boosted its holdings in shares of CME Group Inc. (NASDAQ:CME - Free Report) by 24.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,815,817 shares of the financial services provider's stock after acquiring an additional 358,018 shares during the quarter. Wellington Management Group LLP owned 0.50% of CME Group worth $400,987,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of CME Group in the second quarter worth $6,749,965,000. State Street Corp raised 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 during the last quarter. Norges Bank bought a new position in CME Group during the 4th quarter worth $1,523,241,000. Bank of New York Mellon Corp lifted its holdings 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 worth $1,344,776,000 after buying an additional 134,242 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in CME Group by 5.4% during the 4th quarter. Raymond James Financial Inc. now owns 4,319,763 shares of the financial services provider's stock worth $1,179,858,000 after buying an additional 222,890 shares during the period. Institutional investors own 87.75% of the company's stock.

Insider Buying and Selling at CME Group

In related news, Director William R. Shepard acquired 325 shares of the company's stock in a transaction dated Thursday, June 25th. The shares were purchased at an average price of $230.57 per share, for a total transaction of $74,935.25. Following the completion of the acquisition, the director owned 260,442 shares of the company's stock, valued at approximately $60,050,111.94. This trade represents a 0.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

CME Group Stock Up 1.7%

Shares of CME Group stock opened at $285.80 on Friday. The stock's 50-day moving average is $253.80 and its 200 day moving average is $279.13. CME Group Inc. has a one year low of $218.31 and a one year high of $329.16. The firm has a market cap of $102.77 billion, a price-to-earnings ratio of 24.24, a PEG ratio of 3.40 and a beta of 0.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

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 for the quarter, topping analysts' consensus estimates of $2.91 by $0.08. CME Group had a return on equity of 15.60% and a net margin of 63.30%.The business 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 company posted $2.96 earnings per share. The firm's revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts anticipate that CME Group Inc. will post 12.27 EPS for the current year.

CME Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Wednesday, September 9th will be paid a $1.30 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $5.20 annualized dividend and a dividend yield of 1.8%. CME Group's payout ratio is currently 44.11%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CME. Raymond James Financial reissued an "outperform" rating and issued a $320.00 price target on shares of CME Group in a research note on Thursday, July 2nd. TD Cowen cut their price objective on CME Group from $323.00 to $273.00 and set a "buy" rating on the stock in a research note on Monday, June 22nd. Erste Group Bank cut CME Group from a "buy" rating to a "hold" rating in a report on Friday, June 5th. Piper Sandler decreased their target price on shares of CME Group from $329.00 to $295.00 and set an "overweight" rating for the company in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of CME Group from $249.00 to $250.00 and gave the stock an "underweight" rating in a 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, CME Group presently has an average rating of "Hold" and an average price target 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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