Perigon Wealth Management LLC Has $9.83 Million Holdings in CME Group Inc. (NASDAQ:CME)

Perigon Wealth Management LLC boosted its stake in shares of CME Group Inc. (NASDAQ:CME) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,308 shares of the financial services provider’s stock after purchasing an additional 298 shares during the quarter. Perigon Wealth Management LLC’s holdings in CME Group were worth $9,829,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its stake in shares of CME Group by 70.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,427,107 shares of the financial services provider’s stock valued at $544,157,000 after buying an additional 1,003,119 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of CME Group by 21,465.5% in the 3rd quarter. International Assets Investment Management LLC now owns 485,871 shares of the financial services provider’s stock valued at $1,072,070,000 after buying an additional 483,618 shares in the last quarter. Canoe Financial LP raised its stake in shares of CME Group by 698.0% in the 4th quarter. Canoe Financial LP now owns 544,219 shares of the financial services provider’s stock valued at $126,384,000 after buying an additional 476,019 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of CME Group by 17.8% in the 3rd quarter. Janus Henderson Group PLC now owns 2,514,040 shares of the financial services provider’s stock valued at $554,707,000 after buying an additional 380,071 shares in the last quarter. Finally, Baillie Gifford & Co. bought a new stake in shares of CME Group in the 3rd quarter worth about $79,692,000. 87.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CME. Bank of America upped their target price on shares of CME Group from $177.00 to $180.00 and gave the stock an “underperform” rating in a report on Thursday, October 3rd. Piper Sandler upped their target price on shares of CME Group from $250.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Oppenheimer upped their target price on shares of CME Group from $245.00 to $258.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Redburn Atlantic lowered shares of CME Group from a “buy” rating to a “neutral” rating and set a $244.00 target price on the stock. in a report on Tuesday, October 8th. Finally, Barclays upped their target price on shares of CME Group from $231.00 to $257.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, CME Group has an average rating of “Hold” and a consensus price target of $229.27.

CME Group Stock Up 1.0 %

Shares of NASDAQ CME opened at $236.95 on Tuesday. The firm has a market capitalization of $85.39 billion, a PE ratio of 24.92, a price-to-earnings-growth ratio of 5.28 and a beta of 0.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. CME Group Inc. has a 1 year low of $190.70 and a 1 year high of $249.02. The firm’s 50-day moving average is $234.02 and its 200-day moving average is $221.43.

CME Group Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 27th were paid a $5.80 dividend. The ex-dividend date was Friday, December 27th. This is a positive change from CME Group’s previous dividend of $2.50. CME Group’s dividend payout ratio (DPR) is 48.37%.

CME Group announced that its Board of Directors has authorized a share repurchase plan on Thursday, December 5th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 3.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, insider Sunil Cutinho sold 4,500 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $226.64, for a total value of $1,019,880.00. Following the sale, the insider now directly owns 27,053 shares in the company, valued at $6,131,291.92. This trade represents a 14.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Martin J. Gepsman sold 400 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $222.92, for a total transaction of $89,168.00. Following the completion of the sale, the director now owns 25,067 shares in the company, valued at $5,587,935.64. This represents a 1.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,900 shares of company stock valued at $1,336,008. 0.30% of the stock is currently owned by insiders.

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.