Perigon Wealth Management LLC Increases Position in CME Group Inc (NASDAQ:CME)
Perigon Wealth Management LLC grew its position in CME Group Inc (NASDAQ:CME) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,961 shares of the financial services provider’s stock after buying an additional 876 shares during the period. CME Group makes up 2.1% of Perigon Wealth Management LLC’s portfolio, making the stock its 8th largest position. Perigon Wealth Management LLC’s holdings in CME Group were worth $7,042,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in CME. Meeder Asset Management Inc. raised its holdings in shares of CME Group by 84.8% in the second quarter. Meeder Asset Management Inc. now owns 789 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 362 shares in the last quarter. Kaizen Advisory LLC increased its holdings in shares of CME Group by 151.9% during the second quarter. Kaizen Advisory LLC now owns 816 shares of the financial services provider’s stock valued at $134,000 after acquiring an additional 492 shares in the last quarter. Signaturefd LLC acquired a new position in shares of CME Group during the first quarter valued at about $138,000. Old Mutual Global Investors UK Ltd. acquired a new position in shares of CME Group during the first quarter valued at about $138,000. Finally, McKinley Carter Wealth Services Inc. purchased a new stake in CME Group in the first quarter valued at approximately $142,000. 84.04% of the stock is owned by institutional investors.
In other CME Group news, President Bryan T. Durkin sold 11,509 shares of the company’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $162.01, for a total transaction of $1,864,573.09. Following the completion of the sale, the president now owns 64,862 shares in the company, valued at approximately $10,508,292.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hilda Harris Piell sold 1,823 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $175.00, for a total transaction of $319,025.00. Following the completion of the sale, the insider now directly owns 30,176 shares in the company, valued at $5,280,800. The disclosure for this sale can be found here. Insiders have sold 29,188 shares of company stock worth $4,934,232 over the last ninety days. Company insiders own 0.57% of the company’s stock.
CME Group (NASDAQ:CME) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. CME Group had a return on equity of 9.03% and a net margin of 111.45%. CME Group’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period last year, the company earned $1.22 earnings per share. research analysts predict that CME Group Inc will post 6.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Monday, September 10th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, September 7th. CME Group’s payout ratio is 58.70%.
Several research firms have commented on CME. Zacks Investment Research lowered CME Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $190.00 price objective on shares of CME Group in a research note on Wednesday, September 5th. BidaskClub upgraded CME Group from a “hold” rating to a “buy” rating in a report on Saturday, August 18th. Wells Fargo & Co raised their target price on CME Group from $170.00 to $175.00 and gave the company a “market perform” rating in a report on Monday, July 9th. Finally, Rosenblatt Securities initiated coverage on CME Group in a research report on Wednesday, September 5th. They set a “neutral” rating and a $177.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $174.40.
About CME Group
CME Group Inc, through its subsidiaries, operates contract markets for the trading of futures and options on futures contracts worldwide. It offers a range of products across various asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural products, and metals.
Further Reading: Moving Average (MA)
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